Nigeria’s government has officially published its new tax reform laws, a major step toward overhauling the country’s fiscal system. The four new laws, which were signed in June 2025, are designed to modernize the tax framework, improve compliance, and make the business environment more friendly.
According to Taiwo Oyedele, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, the new legislation includes significant changes to support small businesses. Companies with less than N100 million in annual turnover are now completely exempt from corporate tax.
The laws also allow businesses to pay taxes on foreign currency transactions in Naira at the official exchange rate. While two of the laws took effect immediately, the Nigeria Tax Act and Nigeria Tax Administration Act will be fully implemented on January 1, 2026.
