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What Nigeria’s New Tax Law Really Means for Your Income and Business in 2026 New Tax Law Explained On January 1, 2026 , Nigeria will begin enforcing a major overhaul of its tax system — the most extensive reform in decades. Signed into law in June 2025 , these changes are aimed at simplifying the tax code, expanding the tax base, modernizing administration, and aligning Nigeria with global norms. ( Business Post Nigeria ) Below is a clear breakdown of what it means for workers, small businesses, medium and large firms, and everyday Nigerians . 🧾 1. Big Picture: What’s Changing in 2026 Nigeria’s tax reform consolidates several older laws (like the Personal Income Tax Act, VAT Act, Capital Gains Tax Act) into one modern tax framework — the Nigeria Tax Act (NTA) 2025 . It also introduces the Nigeria Revenue Service (NRS) to replace the Federal Inland Revenue Service (FIRS) as the main tax collector with stronger digital enforcement and broader powers. ( Tax News ) Key aims...