ESSENTIALS OF NIGERIA TAX ACT (NTA) 2025: UPDATES, CHALLENGES, AND OPPORTUNITIES

INTRODUCTION

Tax laws are never static, and Nigeria’s 2025 Tax Act is a clear example of how fast things can change. With sweeping reforms introduced across corporate income tax, VAT, digital services tax, personal income tax, and more, the NTA 2025 demands urgent attention from businesses, professionals, and regulators alike.

This 2-day hands-on training is not just about legal jargon or policy updates, it's about understanding what the changes mean in practice, and how organizations can adapt without falling into costly non-compliance traps. From revised filing timelines to sector-specific changes, this course provides a clear, structured breakdown of the 2025 updates, highlights the challenges businesses are already facing, and offers practical, realistic solutions for navigating them.

You’ll walk away from this course with confidence knowing how to interpret the law, apply it correctly, and make informed decisions that keep your organization compliant, agile, and tax efficient.

COURSE OBJECTIVES

At the end of the session, participants will be able to:

• Understand key updates in the Nigeria Tax Act 2025 and their impact across industries and business sizes.
• Identify compliance risks and close gaps in existing systems.
• Meet filing obligations with clarity on deadlines and documentation.
• Address real-world challenges with practical tools for tax planning and compliance.
• Engage effectively with tax authorities while building sustainable internal compliance systems.

COURSE OUTLINE

Module 1: Why the NTA 2025? Background, Drivers & Objectives

• Review of the 2024 economic context leading to reforms
• Objectives of the NTA 2025: Broaden tax base, increase revenue, close loopholes
• From policy to law: The legislative journey explained simply
• Overview of the structure of the revised NTA

Module 2: Key Tax Categories, What Has Changed?

• Corporate Income Tax (CIT): Changes to rates, exemptions, allowable deductions
• Value Added Tax (VAT): Thresholds, penalties, exemptions
• Withholding Tax (WHT): Updates to rates, applicability across sectors
• Personal Income Tax (PIT): PAYE band adjustments and new reporting rules
• Capital Gains Tax (CGT): New provisions and what they mean for asset sales

Module 3: Sector-Specific Tax Implications

• SMEs & Startups: Tax incentives, registration deadlines, risk of default
• Fintech & Digital Economy: Digital service tax, VAT on electronic transactions
• Oil & Gas / Extractives: Ring-fencing rules, royalty calculations, TP compliance
• Real Estate & Hospitality: Rental income tax, VAT, and local levies

Module 4: Documentation, Filing & Record-Keeping Standards

• Updated timelines and penalty frameworks
• Filing portals
• Document retention: What’s required, for how long
• Audit readiness: FIRS compliance checklist

Module 5: Common Compliance Pitfalls and How to Avoid Them

• Misinterpretation of tax clauses
• Wrong classification of income or expenses
• Dual taxation (federal vs. state authorities)
• Poor documentation and internal controls

Module 6: Engaging with FIRS and State Tax Authorities

• Filing dispute: How to challenge assessments
• Audit process – What to expect and how to prepare
• Voluntary disclosure programs (VDP)
• Withholding tax reconciliation with States

Module 7: Building Internal Tax Efficiency Systems

• Setting up internal tax policy documents
• Creating a tax calendar and compliance checklist
• Working with tax consultants: What to expect
• Training non-finance departments on tax-sensitive decisions

Module 8: The Way Forward – Practical Steps and Strategy

• Short-term actions (next 30–60 days): Auditing your current compliance
• Medium-term strategy (next 6–12 months): Policy alignment and process redesign
• Long-term view: Embedding tax compliance into business culture