Tax Law
The Categorical Exclusion of Professional Service Providers from “Small Company” Status Under Section 202 of the Nigeria Tax Act, 2025
The Categorical Exclusion of Professional Service Providers from “Small Company” Status Under Section 202 of the Nigeria Tax Act, 2025: Legal Implications, Structural Dilemmas, and Strategic Responses 1. Introduction The enactment of the Nigeria Tax Act, 2025 (the “Act”) represents a transformative shift in the nation’s fiscal architecture. Among its most consequential reforms is the introduction of Section 202, which fundamentally alters the taxation of companies providing “professional services”. Historically, small company classification provided significant […]
Glossary of Key Terms under the Nigerian Tax Reform Act: A Guide for Tax Practitioners and Taxpayers
Glossary of Key Terms: Nigerian Tax Reform Act (NTA 2025) Guide Glossary of Key Terms: Nigerian Tax Reform Act (NTA 2025) Guide Glossary of Key Terms under the Nigerian Tax Reform Act: A Guide for Tax Practitioners and Taxpayers Quick Navigation A B C D E F G H I L M N O P Q R S T U V Y Z A 1. Accelerator Statutory Definition: “is as defined in the Nigeria Startup […]
Understanding Chargeable Gains in Nigerian Tax Law
A Comprehensive Guide to Capital Taxation under the Nigeria Tax Act 2025 Imagine this: You purchase a rare, vintage comic book for ₦5,000. A few years later, a collector offers you ₦50,000 for it, and you sell. The ₦45,000 profit you made is a “gain”. In the world of tax, certain gains like this are subject to a specific tax, separate from the tax you might pay on your salary or business income. A […]
Glossary of Key Terms: Nigeria Tax Act 2025
Glossary of Key Terms: Nigeria Tax Act 2025 Demystifying Nigerian Tax Law for Beginners and Professionals. 1.0 Introduction: Making Tax Terms Simple Welcome to this guide on Nigerian tax terminology. Understanding tax law can often feel like learning a new language, filled with specialized words and complex phrases. This document is a simple glossary designed to help beginners, students, and curious learners understand the essential vocabulary found in the Nigeria Tax Act 2025. Our goal […]
Compliance Report: A Practical Guide to Value Added Tax (VAT)
Under the Nigeria Tax Act 2025 1.0 Introduction: Understanding the VAT Framework in the 2025 Act The Nigeria Tax Act 2025 represents a significant and comprehensive update to the nation’s fiscal landscape. For corporate tax departments, mastering the nuances of the new Value Added Tax (VAT) regime is of strategic importance. A thorough understanding is essential to ensure full compliance, effectively manage tax costs, and mitigate the risk of penalties. The fundamental principles of […]