Trendbrio.com

News and Entertainment Update

Live
News
New Tax Reforms to Begin January 1, 2026, Says Taiwo Oyedele 01
02
Entertainment
Burna Boy Donates $100,000 to VeryDarkMan to Free Prisoners and Settle Hospital Bills
03
News
Nigerian Air Force C-130 Aircraft NAF 913 Arrives Safely in Lisbon After Burkina Faso Incident
04
News
SGF George Akume Officially Weds Former Ooni of Ife’s Wife, Queen Zaynab
05
News
Police Arrest Two Banditry and Kidnapping Kingpins Linked to Crimes Across Four States

Tag: Tax reform

New Tax Reforms to Begin January 1, 2026, Says Taiwo Oyedele

Wale busari02 mins

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has confirmed that Nigeria’s new tax reforms will be implemented starting January 1, 2026. Speaking to journalists after the National Tax Policy Implementation Committee (NTPIC), chaired by Joseph Tegbe, visited President Bola Tinubu in Lagos, Oyedele explained that the reforms aim to ease the tax burden on Nigerians and stimulate economic growth. He said, “The implementation of the two remaining new tax laws will proceed as scheduled on January 1, 2026. These reforms are designed to provide relief to the Nigerian people. “About 98 per cent of workers will either pay no PAYE tax or reduced amounts; small businesses, representing 97 per cent of the sector, will be exempted from corporate income tax, VAT, and withholding tax, while larger companies will see a reduction in their tax obligations. “The goal is to foster economic growth, inclusivity, and shared prosperity. We are pleased with the progress and look forward to the reforms taking effect at the start of the new year.”

Read More

Tinubu commends Governors for supporting tax reform

Fola Badmus03 mins

President Bola Tinubu has expressed his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly. President Tinubu lauded the governors for their bold leadership and commitment to fostering unity among leaders nationwide, transcending regional, ethnic, and political barriers to advance Nigeria’s development. Thursday’s productive consultation between the Nigeria Governors’ Forum and the Presidential Committee on Tax and Fiscal Policy is a commendable example of cooperation between the Federal and State governments. He extended special commendations to the Chairman of the Governors’ Forum, Kwara State Governor Abdulrahman AbdulRazaq, for successfully galvanising support among his peers for these transformative tax bills to rejuvenate the national economy and enhance Nigeria’s investment climate. He also commended the Progressive Governors Forum, the Northern Governors Forum, and all other groups that made the bipartisan resolution of the controversy stirred by the tax bills possible. President Tinubu underscored that the primary aim of the Tax Reform Bills, which is pro-poor, is to promote national interests, improve the competitiveness of Nigeria’s economy, and attract both local and foreign investments. He said updating the country’s outdated tax laws is essential to this endeavour. The President noted that the dialogue between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform highlights the power of constructive conversation in resolving differences. President Tinubu regarded the governors as vital contributors to nation-building and affirms his commitment to partnering with them to promote economic growth, national harmony, peace, and stability. He also encouraged other stakeholders with ideas and suggestions for refining the Tax Bills to engage with the ongoing legislative process at the National Assembly. Finally, President Tinubu urged the National Assembly to expedite the legislative process for these crucial bills so that the country can swiftly reap the benefits of the reforms.

Read More