Federal Government has commenced the implementation of the 2024 Withholding Tax Regulations, signaling effort to modernize Nigeria’s tax system.
Approved by President Bola Tinubu in July 2024 and published in the Official Gazette in October, the revised regulations became effective on January first, 2025.
The commencement of the new tax regime was announced by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr Taiwo Oyedele.
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