Tax legislation is the act or process of enacting tax laws and the body of laws that provide for the levying of taxes and tax administration. The following are the existing tax legislation in Nigeria, as at 2016:
Reviews, amendments and modifications to tax legislations are continuous, evolving with global best practices and in keeping with the local socio-economic realities. The review and amendment of tax legislation is in keeping with the formal tax amendment process as provided for in the Nigerian constitution.
As a result of the need to continuously review and amend tax legislation, the following tax laws were amended in the respective years indicated hereunder:
The Petroleum Industry Bill (PIB) is presently before the National Assembly and when passed into law will replace the Petroleum Profits Tax Act. In addition, there is an on-going process to overhaul all existing tax laws and the Service has consequently initiated the Tax Law Redrafting Project to achieve this.
The Public will be notified as soon as any further change to any or all of the tax laws is concluded.
To view the available Tax Compendium, Tax Legislations and National Tax Policy document, Please click on any of the links below.