Nigerian government approves new tax regime exempting manufacturers, farmers, small businesses, reducing rates for low-margin businesses, and combating tax evasion/avoidance.

The Nigerian government has approved a new tax regime, exempting manufacturers, producers such as farmers, and small businesses from withholding tax compliance. The regime also reduces rates for businesses with low margins and introduces measures to curb tax evasion and minimize tax avoidance. The new tax regime is expected to be published in the official gazette in the coming days as part of the ongoing fiscal policy and tax reforms.

July 02, 2024
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