A reform in the Nigeria Tax Act removes the proposed reduction of the 30% income tax rate for large companies to 25%.
Nigeria has published the Nigeria Tax Act (NTA) in the official gazette, which contains revisions that differ from the initially introduced version, reflecting proposed reforms to the country’s tax system.
Nigeria’s President Bola Tinubu has signed four major tax reform bills into law on 26 June 2025, which include the Nigeria Tax Act. This Act combines various tax rules, cuts over 50 overlapping taxes, and simplifies business operations.
In the amendment, the provision enabling a reduction of the 30% income tax rate for large companies to 25%, subject to a presidential order advised by the National Economic Council, has been removed.
Earlier, Nigeria’s House of Representatives adopted various tax reforms proposed by its Committee on Finance, which included a proposal to retain a 30% income tax rate for all companies, excluding small businesses.
