Nigeria Raises Corporate Tax Threshold to N50m, Exempts Key Sectors in New Reform
Image Credit: dailytrustStakeholders gathered in Kano to clarify Nigeria’s new tax reform law, jointly organized by the Presidential aide’s office and FIRS.
The reform raises the corporate tax minimum turnover from N25 million to N50 million and sets the personal income tax threshold at a minimum monthly income of N800,000.
The law exempts sectors like food, healthcare, education, and armed forces from taxation while removing inheritance tax.
A unified digital tax collection platform aims to reduce multiple taxation and business harassment.
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