FG begins six-week review of 2025 tax laws

The Federal Government of Nigeria has commenced a six-week review of the tax reforms introduced in January 2025, aimed at addressing implementation gaps, ambiguities, and unintended consequences that have emerged since their enactment. The review, which will cover key areas such as VAT thresholds, withholding tax, capital gains treatment, and multiple taxation, is expected to inform the Finance Bill 2027.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, emphasized that the real test of the new tax laws lies in their implementation, as businesses, administrators, investors, and citizens interpret, implement, respond to, and experience them differently. The government received 134 submissions from across Nigeria's geopolitical zones, highlighting a range of proposals aimed at clarifying and simplifying various tax aspects, enhancing coordination among revenue authorities, and strengthening taxpayer rights and protections.

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