Some individuals and media are spreading misleading claims about the new tax reform laws taking effect from next year. Here are the facts they are not telling you.
From January 2026:
You will pay less or no tax if you are in the bottom 98% of income earners.
Food will cost less because VAT on food, education and healthcare will be removed.
Small companies will pay 0% corporate tax and will be exempt from VAT.
Large companies will pay lower corporate tax and will enjoy VAT credits on their costs.
In short: everyone – individuals, SMEs, and large companies – benefits from a reduced tax burden.
So you wonder why some say “this is not the right time for tax reform.” But why should we delay a reform that reduces the taxes Nigerians currently pay?
Here are some of the false claims circulating:
New taxes are coming
Government will debit your bank account
Remittances and gifts will be taxed
Online earners are the target
Inflation will worsen
Good news doesn’t trend, sensational misinformation does, often to the benefit of the creator but at the expense of their followers. Unfortunately, many people fall victim.
someone who refused to buy rights issues from his bank because he believed he would be charged 30% Capital Gains Tax. In reality, he will be completely exempt – now he has lost money due to misinformation.
Nigeria’s tax awareness is low, and that makes people vulnerable to misleading analysis.
The new laws did not introduce any new tax. Don’t let anyone scare you into believing otherwise.
When they say new taxes are coming, ask them to mention one. If they say taxes will go up, ask them which tax and for who.
Some individuals and media are spreading misleading claims about the new tax reform laws taking effect from next year. Here are the facts they are not telling you.
From January 2026:
You will pay less or no tax if you are in the bottom 98% of income earners.
Food will cost less because VAT on food, education and healthcare will be removed.
Small companies will pay 0% corporate tax and will be exempt from VAT.
Large companies will pay lower corporate tax and will enjoy VAT credits on their costs.
In short: everyone – individuals, SMEs, and large companies – benefits from a reduced tax burden.
So you wonder why some say “this is not the right time for tax reform.” But why should we delay a reform that reduces the taxes Nigerians currently pay?
Here are some of the false claims circulating:
New taxes are coming
Government will debit your bank account
Remittances and gifts will be taxed
Online earners are the target
Inflation will worsen
Good news doesn’t trend, sensational misinformation does, often to the benefit of the creator but at the expense of their followers. Unfortunately, many people fall victim.
someone who refused to buy rights issues from his bank because he believed he would be charged 30% Capital Gains Tax. In reality, he will be completely exempt – now he has lost money due to misinformation.
Nigeria’s tax awareness is low, and that makes people vulnerable to misleading analysis.
The new laws did not introduce any new tax. Don’t let anyone scare you into believing otherwise.
When they say new taxes are coming, ask them to mention one. If they say taxes will go up, ask them which tax and for who.