Nigeria’s newly formed VAT (Value Added Tax) modification committee faces a balancing act. The group will seek to raise more revenue for a government under fiscal pressure without increasing the costs that already weigh on businesses, consumers and investment. That tension will shape the committee’s work over the next six weeks as it develops a new VAT Modification Order 2026, reviews tax classifications and prepares schedules of exempt and zero-rated supplies, including their corresponding Harmonised System (HS) codes used to classify traded goods for customs and tax purposes.
The committee, inaugurated in Abuja by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, was established as Nigeria moves from passing its tax reforms to implementing them. The Tax Acts 2025 took effect on January 1, 2026, with the Federal Ministry of Finance saying the reforms are intended to improve clarity, fairness and administrative certainty while supporting investment and
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