In June 26, 2025, Nigeria's Presidency signed into law four significant Tax Reform Bills, including a new Tax Act, aimed at overhauling Nigeria's tax landscape.
The four Tax Reform Bills, now signed into law and collectively known as the Tax Reform Acts, are:
- The Nigeria Tax Act (NTA)
- The Nigeria Tax Administration Act (NTAA)
- The Nigeria Revenue Service (Establishment) Act
- The Joint Revenue Board (Establishment) Act
These reforms form part of the Federal Government's strategy to improve revenue generation, promote fiscal transparency, and simplify the tax system.
Key Highlights of the Reform Bills
Phased Implementation begins in January 2026 to allow for stakeholder alignment and system adjustments. The reforms target streamlined compliance, reduced redundancies in tax laws, and a more equitable tax structure.
They are expected to impact corporate tax obligations, VAT administration, and taxpayer registration protocols.
For cross-border businesses and local entities, these changes may significantly affect planning, reporting, and remittance frameworks.
Preparing for Compliance
The enactment of these Tax Reform Acts signals an urgent need for businesses to:
- Review their tax compliance strategies;
- Assess the impact of upcoming changes on operations and reporting cycles;
- Engage professional advisory to navigate transitional rules and sector-specific implications.
To understand how these tax reforms may affect your business, contact the PUNUKA Tax Team today. Our experts are ready to provide strategic guidance tailored to your operations.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
