ARTICLE · 19 MARCH 2025

Significant Tax Developments In Nigeria

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2024 has been a pivotal period for the Nigerian tax landscape, marked by significant legislative changes, and landmark court decisions. Three broad trends emerged from these developments.

NigeriaTax

Stephen Arubike

Emeka Ezekwesiri

Athanasius Akor

Utonwa Onwumelu

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Introduction

2024 has been a pivotal period for the Nigerian tax landscape, marked by significant legislative changes, and landmark court decisions. Three broad trends emerged from these developments. First, the government took steps to address escalating inflation and the rising cost of living through fiscal instruments. Second, there was a comprehensive effort to overhaul the tax laws. Third, there were fiscal initiatives focused on enhancing investments in the oil and gas sector to boost output.

These developments have not only reshaped the tax environment but also set the stage for future reforms aimed at enhancing compliance, broadening the tax base, and fostering economic growth. This review highlights the key legislations, court decisions and rulings from tax tribunals in Nigeria during 2024.

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