The Digest:
On August 21, 2025, President Bola Tinubu introduced a Personal Income Tax Calculator to help Nigerians estimate their tax liabilities under the new tax laws, which will take effect in January 2026. The initiative aims to simplify compliance, ensuring fairness and equity in the tax system.
Key Points:
- Tinubu unveiled a Personal Income Tax Calculator to assist Nigerians with tax calculations under the new laws.
- The new tax laws, effective from January 2026, aim to ease the burden on low-income earners.
- The calculator allows individuals to compare their current tax payments with the estimated tax under the new regime.
- The president emphasized that the tax system would be progressive, protecting vulnerable citizens.
- The Personal Income Tax Calculator is available at fiscalreforms.ng/index.php/pit.
- The new tax reforms are designed to restore fairness and encourage inclusive economic growth.
- Tinubu urged Nigerians to "bet on Nigeria," believing the country’s reforms will work for them and their communities.
Tinubu’s tax reforms, including the introduction of the Personal Income Tax Calculator, are part of his broader efforts to create a fairer and more transparent tax system. The initiative aims to simplify compliance and provide equitable redistribution in the economy.
Sources: TheCable
