NIGERIA TAX ACTS REPOSITIONING NIGERIA’S TAX ECOSYSTEM FOR THE FUTURE

KEY CHANGES INTRODUCED BY THE ACTS

The key changes introduced by the Acts are highlighted below:

Exemption of Small Companies from Taxes

NTA 2025 redefines small companies as companies with annual turnover not exceeding ₦100 million and fixed assets not exceeding ₦250 million, except for professional service firms. Small companies are exempted

from the Companies Income Tax, Capital Gains Tax, development levies, and minimum effective tax rate adjustments. However, they are still required to register, keep records, and file tax returns in line with the provisions of NTAA.