The Nigerian government has announced that its four landmark fiscal reform tax laws will officially take effect on January 1st, 2026. This confirmation came on Thursday from Zach Adedeji, Chairman of the newly renamed Nigeria Revenue Service (NRS), following President Bola Tinubu's assent to the critical tax bills.
The six-month period leading up to implementation is designed to give the nation ample time to prepare and sensitize all Nigerians, including the vital small and medium-sized business sector. A significant outcome of these reforms is the transformation of the Federal Inland Revenue Service (FIRS) into the Nigeria Revenue Service (NRS).
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Adedeji stated, "Two hours ago, before we were FIRS, now we are Nigeria Revenue Service with an expanded scope," explaining the NRS's new mandate which now includes non-tax revenue collection, alongside enhanced transparency and efficiency.
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reforms, underscored President Tinubu's directive for a thorough implementation. He emphasized that even the most innovative laws mean nothing without proper execution, highlighting the need for collective participation.
The committee plans to actively involve the private sector, civil society, and professional bodies to ensure a smooth transition, aiming for these reforms to truly unlock new opportunities for the country.
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