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Posted: 2025-06-27 13:50:23 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-06-27 13:50:38 UTC
Verified By
Rollup News
Nigeria introduces new tax reforms affecting individuals and businesses, including changes to income tax, corporate tax, and the introduction of a national development levy.
Tax exemption for those earning below ₦800k/year
Centralization of revenue collection under the Nigeria Revenue Service (NRS)
25% income tax for high earners (₦50 million and above)
Corporate tax reduction from 30% to 25% in 2026 for medium/large companies
Tax exemption for small businesses
No VAT on essential goods and services
Effective implementation of the reforms
Potential impact of the new National Development Levy on higher income earners and large companies