NEWS:FG NEW TAX REFORMS LAWS

The Federal Government has published Nigeria’s new tax reform laws in the official gazette following President Bola Tinubu’s assent on June 26.
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‎The announcement was contained in a statement signed by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf, on Wednesday.
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‎The reforms introduce four legislations: the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025, and the Joint Revenue Board (Establishment) Act 2025.
‎The gazette stated, “Small businesses with turnover under ₦100m and assets below ₦250m are exempted from corporate tax.
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‎”Corporate tax rate for large firms may be cut from 30% to 25% at the President’s discretion.
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