Nigerians Earning Below N800,000 Annually Exempted from Personal Income Tax Under New Law

Nigerians Earning Below N800,000 Annually Exempted from Personal Income Tax Under New Law

Senator Solomon Adeola, chairman of the Senate Committee on Appropriations, has announced that Nigerians earning N800,000 or less per year will now be exempt from paying personal income tax. 

This update comes following the signing of four key tax reform bills by President Bola Tinubu on Thursday. 

The newly enacted laws include the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act.