The Nigerian Senate approved a series of tax reform bills on 7 and 8 May 2025, including the Nigeria Tax Bill 2025, the Nigeria Revenue Service (Establishment) Bill 2025, the Nigeria Tax Administration Bill 2025, and the Joint Revenue Board (Establishment) Bill. Some of the main measures include:
- Maintaining the corporate income tax rate at 30% instead of the originally proposed reduction;
- Maintain the VAT rate at 7.5% instead of the originally proposed increase;
- Increasing the revenue thres…