Who and who go dey immune from 2026 tax reforms wey go start for January?

Dem don announce 50 tax exemptions and reliefs wey go follow di new tax reform laws wey suppose start for 1 January, 2026.

Dis na according to di Chairman of di Presidential Fiscal Policy and Tax Committee, Taiwo Oyedele.

For statement wey im drop for X, e reveal di tins wey pesin no go need to pay tax on top of plus some tax relief for pipo wey no dey make money like dat.

E tok say di package, na "one of di most pipo-focused tax reforms for nigeria recent history".

Na for June, President Bola Tinubu bin sign di for bills wey make up di tax reforms into law.

Oga Oyedele reveal say, "di new tax laws go give relief and exemptions for low income earners, average taxpayers and small small businesses dem".

Di 50 tax relief plan dey divided into nine categories wit different kain relief inside.

Dem include personal Income Tax or PAYE, di allowable deduction and relief for Individuals, di kain pensions and gratuity wey get tax exemption, di kain Capital Gains Tax wey dey exempt, di kain Companies Income Tax wey dey exempt, di companies wey dey exempt from small development levy, di kain companies wey dey exempt from witholfing tax.

Di categories also involve which products and services get value added tax exemption or go pay 0% VAT, and who dey exempt from stamp duties.

Who go benefit from di tax exemption & reliefs

Personal Income Tax or PAYE

1. Pipo wey dey collect di national minimum wage or less dey exempt

2. Annual gross income dey up to ₦1,200,000 (wey mean like ₦800,000 of taxable salary) dey exempt

3. Drop in PAYE tax for who dia yearly gross salary dey up to ₦20 million

4. Gifts dey exempt

Allowable deductions and reliefs for individuals

5. Pension contribution to PFA

6. National Health Insurance Scheme

7. National Housing Fund contributions

8. Interest on loans for owner-occupied residential housing

9. Life insurance or annuity premiums

10. Rent relief - 20% of annual rent (up to ₦500,000)

Pensions and gratuities

11. Pension funds and assets wey dey under di Pension Reform Act (PRA) dey tax-exempt.

12. Pension, gratuity or any retirement benefits wey dey dem give as di PRA tok make dem give am

13. Compensation for loss of employment wey reach ₦50 million

Capital gains tax (CGT) – Exempt

14. Sale of an owner-occupied house

15. Personal effects or property wey cost reach ₦5 million

16. Sale of up to two private vehicles per year

17. Gains on shares wey no reach₦150 million per year or gains wey reach ₦10 million

18. Gains on shares wey pass di money wey we tok for up but wey dem reinvest

19. Pension funds, charities, and religious institutions (non-commercial)

Companies income tax (CIT) - Exempt

20. Small companies (wey dia turnova no pass ₦100 million and and dia full fixed assets no cost pass ₦250 million) go pay 0% tax

21. Eligible (labelled) startups dey exempt

22. Compensation relief - 50% additional deduction for salary increases, wage awards, or transport subsidies for low-income workers

23. Employment relief - 50% deduction for salaries of new employees wey dem hire and kep for at least three years

24. Tax holiday for di first 5-years for agricultural businesses (crop production, livestock, dairy etc)

25. Gains from investment in a labeled startup by venture capitalist, private equity fund, accelerators or incubators

Development levy - Exempt

26. Small companies dey exempt from di 4% development levy

Withholding tax - Exempt

27. Small companies, manufacturers and agric businesses dey exempt from di withholding tax deduction on top dia income

28. Small companies dey exempt from deduction for dia payments give suppliers

Value addes tax (VAT) - 0% or Exempt

29. Basic food items - 0% VAT

30. Rent - Exempt

31. Education services and materials - 0% VAT

32. Health and medical services

33. Pharmaceutical products - 0% VAT

34. Small companies (≤ ₦100m turnover) dey exempt from charging VAT

35. Diesel, petrol, and solar power equipment - VAT suspended or exempt

36. Refund of VAT on assets and overheads to produce VATable or 0% VAT goods and services

37. Agricultural inputs - fertilizers, seeds, seedlings, feeds, and live animals

38. Purchase, lease or hire of equipment for agric purposes

39. Disability aids - hearing aids, wheelchairs, braille materials

40. Transport - shared passenger road transport (non-charter)

41. Electric vehicles and parts - exempt

42. Humanitarian supplies - exempt

43. Baby products

44. Sanitary towels, pads or tampons

45. Land and building

Stamp duties - Exempt

46. Electronic money transfers below ₦10,000

47. Salary payments

48. Intra-bank transfers

49. Transfers of government securities or shares

50. All documents for transfer of stocks and shares