FG begins six-week review of 2025 tax laws

The Federal Government has launched a six-week review of Nigeria's 2025 tax laws to address issues that have arisen since implementation began in January. The review, chaired by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, will assess key areas such as Value Added Tax thresholds, withholding tax, capital gains treatment, and multiple taxation.

The government has received 134 submissions from various stakeholders, with preliminary concerns including the need for clearer and simplified VAT thresholds, withholding tax, and capital gains treatment. Oyedele emphasized that the review should focus on preserving the fundamental principles of the 2025 reforms while addressing implementation challenges and new economic realities.

The subcommittee, which will also review other tax-related matters, aims to submit its recommendations by the end of the six-week period.