Today, 26 June 2025, President Bola Tinubu formally signed into law a bold suite of four tax reform bills that promises to streamline Nigeria’s fiscal landscape.
What was signed?
- The Nigeria Tax Bill – Streamlines and consolidates numerous fragmented tax laws into one harmonised statute, intended to simplify compliance and enhance the ease of doing business.
- The Nigeria Tax Administration Bill – Establishes a uniform, digital-friendly and transparent tax administration framework across federal, state, and local governments.
- The Nigeria Revenue Service (Establishment) Bill – Replaces the Federal Inland Revenue Service (FIRS) with a more autonomous, performance-driven Nigeria Revenue Service, with expanded roles including non-tax revenue collection.
- The Joint Revenue Board (Establishment) Bill – Creates a coordinating body across all government levels, featuring oversight via a Tax Appeal Tribunal and Office of the Tax Ombudsman to handle disputes.
When does it take effect?
The reforms take effect from 1 January 2026, giving businesses and regulators a six-month window to adjust.
Recommended Actions for Taxpayers:
- Begin tax planning for 2026 using new frameworks.
- Audit current tax structures, functions, resources and tools to ensure alignment with updated tax rules.
- Build capacity and train staff on digital processes and compliance requirements.
- Lookup/ keep abreast with the Nigerian Revenue Service (NRS) rollout strategy.
At Vi-M Professional Solutions, we remain committed to helping you navigate these tax reforms with clarity and confidence. Our team is currently analysing the new laws in detail and will be rolling out a series of explanatory materials and practical guidance, well ahead of the 1 January 2026 implementation date, to support your compliance and planning efforts.
We encourage you to stay engaged with our updates and/ or reach out to us by email via clients@vi-m.com, for tailored advice or assistance as needed.