Nigeria’s New Tax Reforms: What Small Businesses Must Know to Stay Compliant
SNOW TV BUSINESS NEWS DESKSmall business owners and entrepreneurs across Nigeria are being urged to review their financial records, business registration, and tax obligations following the introduction of the country's new tax framework, which took effect on January 1, 2026.
The reforms, introduced through four major tax laws signed by President Bola Ahmed Tinubu in June 2025, are designed to simplify tax administration, broaden compliance, and create a more business-friendly environment.
Under the new framework, the Federal Inland Revenue Service (FIRS) has been replaced by the Nigeria Revenue Service (NRS), while the Nigeria Tax Act 2025 provides a consolidated framework for taxation.
One of the significant provisions concerns small businesses. Companies with annual gross tu...