On 26 June 2025, President Tinubu signed into law the Nigeria Tax Act 2025, alongside three supporting statutes: the Nigeria Revenue Service Act, the Tax Administration Act, and the Joint Tax Board Act. Together, these represent the most comprehensive reform of Nigeria’s tax system in decades.
The new Tax Act is not merely a consolidation of existing laws; it is a bold rewrite of how businesses and individuals are taxed. From the introduction of tax on digital assets and a new development levy to changes in the treatment of employment income and minimum tax rules for multinationals, the rules are shifting significantly.
The definition of a “small company” has been expanded, meaning more businesses now qualify for corporate tax exemptions. Start-ups can now access tax holidays, and investors may claim reliefs when backing early-stage companies. At the same time, the new framework tightens compliance requirements, especially for cross-border operations.
We have unpacked the key changes without the legal jargon to help you understand what has changed and why it matters.
If you have any questions or would like tailored guidance, please feel free to reach out to us at hello@tlpadvisory.com