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Nigeria to Tax Informal Businesses at 1% of Annual Turnover in Major Reform
The Business NG
|BusinessNg
Informal businesses across Nigeria are set to begin paying a 1 per cent tax on their annual turnover as the Federal Government implements measures to broaden the nation's tax base under its 2025/2026 fiscal reform agenda.
The new levy, a presumptive tax, aims to bring millions of small and unregistered businesses into the formal tax system while simplifying compliance for operators who may not maintain detailed financial records.
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