Posted by Chinenye on Fri 18th Sep, 2026 - tori.ng
Nigeria's new tax system is getting another look after businesses raised concerns about how some of the rules are being applied.
(President Bola Tinubu. Photo by Daily Trust)
The government has started a six-week review of its new tax laws after implementation revealed problems and sparked complaints from businesses.
The review will look at Value Added Tax thresholds, withholding tax, capital gains treatment and multiple taxation issues.
Finance Minister Taiwo Oyedele launched a technical committee to assess the laws and prepare recommendations for the 2027 Finance Bill.
The four laws took effect on January 1, 2026.
They consolidated fragmented tax rules into one system and created a new Nigeria Revenue Service with more autonomy.
Since implementation, private sector groups complained that conflicting interpretations of the laws have paralysed corporate tax filings.
In June, major business associations including manufacturers, small business groups and employers warned President Tinubu that the approach undermined the reforms.
The main dispute centres on how to handle taxes from accounting periods that ended before January 1, 2026.
The government's transition guidelines said old tax laws should still apply to those periods, even if payments are due in 2026.
But the Nigeria Revenue Service issued a different order in June, saying companies must use the new framework.
Oyedele said the review is not about scrapping the 2025 reforms but fixing problems that have emerged.
The government received 134 submissions from across Nigeria outlining concerns about VAT rules, tax coordination and the need for stronger protections for small businesses.