Author: bibncollar

Nigeria’s wealthiest citizens will be subject to a Personal Income Tax (PIT) rate of 25% starting next year. Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, announced this during the ongoing #NES30 conference in Abuja. Speaking as a panelist in the session titled “Fiscal and Monetary Policy Reforms: Removing Barriers to Private Sector Investment,” Mr. Oyedele explained that the tax bills currently before the National Assembly aim to provide relief to Nigerian taxpayers. Once passed, the new law will take effect in January 2025, reducing the tax burden on low-income earners while imposing…