*Says new order to provide certainty for businesses, investors, tax administrators
Ndubuisi Francis in Abuja
The federal government has inaugurated an Inter-Ministerial Committee to develop the 2026 Value Added Tax (VAT) Modification Order, a major step towards ensuring the smooth implementation of Nigeria’s new tax laws and providing greater certainty for businesses, investors and tax administrators.
Among others, the committee is saddled with the task of recommending a comprehensive schedule of VAT-exempt and zero-rated supplies, taking into account revenue implications, social impact, Nigeria’s treaty obligations, and regional integration commitments.The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, inaugurated the committee in his office, charging members to deliver a modern and practical VAT framework that reflects the intent of the Tax Reform Acts and responds to the realities of today’s economy.
He described the Tax Reform Acts, which came into effect on January 1, 2026, as the most extensive changes to Nigeria’s tax system in decades, noting that the reforms simplify tax administration, improve certainty, strengthen competitiveness, protect vulnerable Nigerians and create a stronger foundation for sustainable economic growth.Oyedele explained that while the previous VAT Modification Order made under the repealed VAT Act had served its purpose, the new legal framework requires a fresh Order to provide clarity, update relevant schedules and support the effective implementation of the Nigeria Tax Act.
