Nigeria: Update on proposed legislation to reform tax system

Proposed legislation as published in official gazette includes differences for initially introduction version.

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July 31, 2025

The Nigeria Tax Act (NTA), which includes proposed legislation to reform the tax system in Nigeria, as published in the official gazette includes some differences from the initially introduced version. Read TaxNewsFlash

For example, the provision allowing the 30% income tax rate for large companies to be reduced to 25% effective from a date as may be determined in an order issued by the president on the advice of the National Economic Council has been deleted.

Read a July 2025 report prepared by the KPMG member firm in Nigeria that describes the notable differences in the legislation.

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