Echotitbits – Nigeria News

Tag: business climate

  • Presidency pushes back on KPMG critique of new tax laws, says reforms are deliberate

    Presidency pushes back on KPMG critique of new tax laws, says reforms are deliberate

    Reporting by Vanguard indicates the Presidency has rejected elements of a KPMG critique of Nigeria’s new tax laws, insisting the reforms were designed with specific policy trade-offs in mind.

    The report suggests the government is trying to calm uncertainty for businesses and investors, especially around implementation details, compliance costs, and transitional arrangements.

    Analysts say pushback alone won’t settle concerns; what matters is clarity—guidelines, timelines, dispute-resolution pathways, and how enforcement will be applied to SMEs and large corporates.

    Businesses will be watching for harmonisation to reduce multiple taxation and for improvements in tax administration to curb arbitrary charges.

    Echotitbits take: This is a credibility moment. Watch for implementing regulations and whether revenue agencies standardise processes—or whether the old ‘multiple levies’ problem persists.

    Source: Vanguard –  https://www.vanguardngr.com/2026/01/presidency-rebuts-kpmgs-claims-on-new-tax-laws-defends-reform-choices-2/ 11 January 2026

    Vanguard 2026-01-11

    Photo Credit: Vanguard

  • Kogi signs two revenue bills to align state collections with Nigeria’s new tax reform direction

    Kogi signs two revenue bills to align state collections with Nigeria’s new tax reform direction

    2026-01-02 09:00:00
    Figures cited by Punch show Kogi State has signed into law two revenue-related bills intended to strengthen tax administration and align with the Federal Government’s broader tax reform agenda.

    The measures include a state internal revenue service establishment framework and a harmonised approach to collecting taxes and levies, presented as a way to boost transparency and reduce leakages.

    Officials argue that clearer rules can improve compliance and expand the revenue base beyond a narrow set of collection points, if the rollout avoids harassment and multiple taxation traps.

    Validation: The Guardian reported Kogi “signed into law two key revenue bills” aligned with the federal reform direction. PM News echoed the expected impact, quoting a government statement that the move is “expected to boost state revenue, enhance transparency, and promote economic growth.”

    Echotitbits take: Tax reform succeeds or fails in execution. Watch for whether Kogi digitises collections, curbs informal levies at local levels and sets a credible appeals process—business confidence depends on predictability, not just new laws.

    Source: The Punch — 2026-01-02 (https://punchng.com/kogi-gov-signs-tax-reform-laws/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • Kwara passes harmonised taxes bill to curb multiple levies and boost collections

    Kwara passes harmonised taxes bill to curb multiple levies and boost collections

    2025-12-31 09:35:00

    Reporting by The Nation indicates the Kwara State House of Assembly has passed a harmonised taxes and levies bill aimed at streamlining revenue collection and reducing multiple taxation across the state.

    Lawmakers said the legislation is designed to clarify approved charges, cut leakages, and improve compliance for businesses and residents, with next steps focused on transmitting a clean copy for executive assent.

    The move aligns with broader sub‑national efforts to expand internally generated revenue while keeping the tax environment predictable for investors.

    New Telegraph reported the assembly “passes harmonised taxes, levies bill into law,” while Western Post also said lawmakers “pass Harmonised Taxes and Levies Bill into law.”

    Echotitbits take: Harmonisation only works if enforcement is disciplined—no parallel ‘task forces’ or informal collectors. Watch implementation rules, dispute‑resolution mechanisms, and how the state balances revenue goals with SME survival in 2026.

    Source: The Nation — December 31, 2025 (https://thenationonlineng.net/kwara-assembly-passes-harmonised-taxes-levies-bill-into-law/)

    The Nation December 31, 2025

    Photo Credit: The Nation

  • FG grants two-year cushion as 149 pioneer-status firms transition to new tax regime

    FG grants two-year cushion as 149 pioneer-status firms transition to new tax regime

    Photo Credit: Wikimedia Commons
    2025-12-19 13:00:00

    As reported by The Punch, the Federal Government says 149 companies currently enjoying pioneer-status incentives will retain their tax holidays for at least two more years as Nigeria transitions to a new tax regime from January 2026.

    The decision is framed as a stability measure so firms approved under the old regime don’t face a sudden cliff-edge while a redesigned incentive framework takes effect.

    Verification: MSME Africa also reported the two-year cushion for existing beneficiaries, while KPMG’s tax note discusses the transition to the Economic Development Tax Incentive (EDTI) scheme effective January 1, 2026.

    Quotes: MSME Africa: “retain their tax holidays for at least two more years…” KPMG: “transition… takes effect January 1, 2026.”

    Analysis/Echotitbits take: Incentives must be disciplined and outcome-based. Watch for transparency on beneficiaries/sectors, measurable investment and jobs delivered, and whether the new scheme reduces rent-seeking.

    Source: The Punch — 2025-12-19 — https://punchng.com/149-firms-retain-tax-holidays-under-new-law-fg/

    The Punch 2025-12-19