The Federal Government has commenced a six-week review of Nigeria’s new tax laws following concerns and implementation challenges raised by businesses and other stakeholders.
The review is being conducted by a newly inaugurated Technical Subcommittee on Fiscal Policy and Tax Reforms, which has been tasked with identifying ambiguities, unintended consequences and areas where compliance can be simplified.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, inaugurated the subcommittee in Abuja on Thursday.
Oyedele said the review was necessary because the implementation of the new tax laws had exposed areas requiring clarification, refinement and possible further reforms.
The exercise will examine key aspects of the tax regime, including Value Added Tax thresholds, withholding tax, capital gains treatment and multiple taxation. Its recommendations are expected to contribute to the 2027 Finance Bill.
The minister stressed that the review was not intended to reverse the fundamental tax reforms introduced in 2025, but to address issues that have emerged during implementation and ensure that the framework responds to current economic realities.
The four major tax laws — the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025 and Joint Revenue Board (Establishment) Act 2025 — took effect from January 1, 2026.
The subcommittee comprises representatives from government agencies, professional bodies, organised private-sector groups and major accounting firms, including the Nigeria Revenue Service, Central Bank of Nigeria, Manufacturers Association of Nigeria, NACCIMA, ICAN, CITN, NBA, Deloitte, EY, KPMG and PwC.
The move follows recent concerns from businesses and tax professionals over issues including VAT refunds, compliance requirements, capital gains tax, working capital and the application of the new rules to businesses of different sizes.
Oyedele said the government would use lessons from the implementation of the reforms to improve clarity, competitiveness and ease of compliance.
The committee has been given six weeks to submit its recommendations, which will help shape further adjustments to Nigeria’s tax framework and inform the preparation of the 2027 Finance Bill.
