Nigeria’s New Tax Regime: What You Need to Know (Finance Act 2025)
At Akinyele Oluwale & Co., we are committed to keeping our clients informed about the latest regulatory changes affecting businesses and individuals in Nigeria.
The Finance Act 2025 represents one of the most significant tax reforms in Nigeria in recent years. Signed into law to simplify the tax system, reduce multiple taxation, and improve ease of doing business, the Act introduces several key changes:
Major Highlights:
Company Income Tax (CIT) reduced to 25% for large companies (from 30%).
Tertiary Education Tax significantly reduced from 2% to 0.5%.
- Strengthened rules against multiple taxation across federal, state, and local governments.
- Expanded scope of Value Added Tax (VAT) on digital services and luxury goods.
- Higher exemption thresholds for Capital Gains Tax and Personal Income Tax.
- Mandatory digital compliance through the new Rev360 platform.
New Tax Portal – Rev360
The Federal Inland Revenue Service (FIRS) has launched Rev360 (www.rev360.gov.ng), a unified digital platform for all federal tax filings and payments. This new system makes tax compliance easier, faster, and more transparent.
Our Advisory
These reforms present both opportunities and compliance requirements for businesses. Early adaptation will help you avoid penalties and optimize your tax position.
Japan remains the world’s third-largest economy by nominal GDP, behind the United States and China. It is a technological powerhouse with strengths in:
However, Japan faces structural headwinds:
Most reputable forecasts (IMF, World Bank, OECD) do not project Japan becoming the world’s largest economy by 2030. China is expected to remain in second place, with the U.S. still leading. Japan is more likely to maintain its position as a top-five economy, potentially competing with India and Germany.
While Japan has tremendous strengths and a proud history of economic resilience, becoming the world’s number one economy by 2030 is highly unlikely based on current trends. However, Japan can still thrive as a high-quality, innovative, and influential economy in the decades ahead.
The real story is not about overtaking others in GDP rankings, but about sustaining prosperity, technological leadership, and quality of life despite demographic challenges.
