FG Begins Six-Week Review of Tax Reforms, VAT and Withholding Tax Rules

The Federal Government has begun a six-week review of Nigeria’s tax reforms, which have been in force since January 2026. A technical subcommittee chaired by the Presidential Fiscal Policy and Tax Reforms Committee will examine how key parts of the system are working in practice. The review will cover VAT thresholds, withholding tax, capital gains treatment and multiple taxation. It will consider concerns about unclear provisions, compliance difficulties, taxpayer rights, refunds and repeated requests for information already held by government agencies. No tax rule has changed yet. The committee’s recommendations may inform a proposed Finance Bill in 2027, while the existing 2025 tax laws remain in force for 2026. Freelancers and other taxpayers should keep clear records of income, expenses, invoices, deductions and payments. This is especially important where income comes from multiple clients or where withholding tax has been deducted.

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