Nigeria’s tax landscape is set for a historic overhaul, as the Federal Inland Revenue Service has explained that the government’s reforms exempt food, education, shared transportation, and agriculture from value-added tax.
The reforms, described as the most significant fiscal transformation since independence, are designed to ease the burden on citizens and businesses, while improving government revenue collection.
The Executive Chairman of FIRS, Zacch Adedeji, revealed the changes in an interview marking his two years in office.
He credited President Bola Tinubu for fulfilling his campaign promise to simplify tax compliance and remove hurdles faced by taxpayers.
“With these new laws, food, education, transport, and agriculture will be VAT-free,” Adedeji declared.
“The President has fulfilled his promise to make businesses flourish by removing all burdens and hurdles. This is the best thing that has happened to Nigeria’s fiscal ecosystem since 1960.”
