Nigeria: Tax Authorities

Nigeria's new Presumptive Tax Regulations establish a simplified tax framework for informal sector businesses and individuals whose income cannot be accurately determined through standard assessment methods. The regulations introduce a 1% turnover-based tax system with specific exemptions for nano businesses, while also implementing a 2% capital gains tax on asset disposals.

Nigeria's new tax regime transitions from legislative reform to practical implementation, with the Nigeria Revenue Service rolling out electronic invoicing requirements for large taxpayers and a comprehensive Tax Identification framework. The International Monetary Fund has weighed in with recommendations for further revenue mobilisation, while the Tax Appeal Tribunal has set important precedents on the proper methodology for Best of Judgment assessments.

On 18 June 2026, Nigeria's Minister of Finance issued comprehensive transition guidelines for newly enacted tax legislation. These guidelines establish operational frameworks for implementing four major tax Acts that fundamentally reshape the country's tax administration and revenue collection systems. The transition rules address critical implementation questions for taxpayers, tax authorities, and stakeholders navigating Nigeria's reformed tax landscape.

Nigeria's tax landscape has undergone a fundamental shift with the enactment of the Nigeria Tax Act, 2025, which consolidates the country's core federal tax laws into a single unified framework. This reform introduces significant changes to how mergers and acquisitions are structured, priced, and executed, including the integration of capital gains into the income tax regime, revised exemptions for share disposals, and the introduction of taxation for indirect transfers.

On June 26, 2025, President Bola Ahmed Tinubu signed four transformative tax bills into law, fundamentally reshaping Nigeria's taxation landscape. The Nigeria Tax Act, 2025 repealed principal taxation legislations, introducing a comprehensive new framework that affects companies and taxpayers across the country. What are the key provisions of this new tax regime and how will it impact businesses operating in Nigeria?

Tax audit readiness in Nigeria is really about being so organised that Nigeria Revenue Service (NRS) or State IRS (like LIRS) never catches you unprepared, even if they show up tomorrow morning at your door step. In this article, we will walk through what that looks like in practice, from the complete document checklist to how to respond to queries without panicking.

The decision of the Federal High Court ("the Court") in Shell Petroleum Development Company of Nigeria Limited v. Federal Inland Revenue Service (FIRS)1 has brought renewed attention to fundamental principles of Nigerian tax law, particularly regarding the proration of tax rates within an accounting year and the retrospective application of tax legislation.

You may have heard about the new tax reform Acts passed by the National Assembly and signed into law by His Excellency, President Bola Ahmed Tinubu GCFR, in June 2025. These reforms come in four key pieces of legislation: the Nigeria Tax Act, the Nigeria Tax Administration Act, the Joint Revenue Board of Nigeria (Establishment) Act, and the Nigeria Revenue Service (Establishment) Act. Taken together, these pieces of legislation represent the most significant overhaul of Nigeria's tax framework in decades

Nigeria’s startup ecosystem has established itself as one of the most dynamic in Africa. Despite global headwinds in venture capital markets, funding into African technology companies remained significant in 2024, with Partech reporting that US$3.2 billion was invested across the continent, much of it concentrated in Lagos, a city that now ranks among the leading global hubs for technology talent and entrepreneurial activity.