The Federal Government has officially published Nigeria’s new tax reform laws in the government gazette, marking a historic overhaul of the country’s fiscal framework.
Signed into law by President Bola Tinubu on June 26, 2025, the reforms establish a new foundation for taxation, administration, and revenue collection.
The four legislations are: Nigeria Tax Act (NTA), 2025, Nigeria Tax Administration Act (NTAA), 2025, Nigeria Revenue Service (Establishment) Act (NRSEA), 2025, and the Joint Revenue Board (Establishment) Act (JRBEA), 2025.
Key highlights in the reform include the following:
“Small businesses with turnover under N100m and assets below N250m are exempted from corporate tax.
“Corporate tax rate for large firms may be cut from 30% to 25% at the President’s discretion. “Top-up tax thresholds: N50bn (local firms) and €750m (multinationals).
“5% annual tax credit introduced for eligible priority-sector projects.
“Companies transacting in foreign currency may now pay taxes in naira at official exchange rates.”