Businesses still struggle to interpret new tax laws – ACCI

The Abuja Chamber of Commerce and Industry (ACCI) has stated that many businesses still struggle to understand the new tax reforms, hence the need for more sensitization. Chief Emeka Obegolu, ACCI President stated this yesterday at a high-level gathering for business leaders and experts in Abuja. The meeting, tagged Abuja Business Tax Roundtable 2025, had […]

The Abuja Chamber of Commerce and Industry (ACCI) has stated that many businesses still struggle to understand the new tax reforms, hence the need for more sensitization.

Chief Emeka Obegolu, ACCI President stated this yesterday at a high-level gathering for business leaders and experts in Abuja.

The meeting, tagged Abuja Business Tax Roundtable 2025, had the theme, “Demystifying the New Tax Laws.”

Obelogu said the ACCI collaborated with some relevant stakeholders to deepen understanding of the new tax reforms taking effect on January 1, 2026.

He stated that the essence of the event was to address business concerns ahead of the 2026 fiscal transition.

Obelogu stated that businesses still struggle to interpret the implications of the reforms, stressing the need for clarity on compliance requirements, operational adjustments and transition procedures.

He said the communiqué expected from the meeting would guide advocacy, strengthen understanding and support government efforts to ensure smooth deployment of the reforms.

 

 

 

Similarly, Dr Zacch Adedeji, Chairman, Federal Inland Revenue Service (FIRS), said the ongoing tax reforms aimed to support businesses, especially small firms, through zero per cent income tax, capital gains tax exemptions and reliefs that allow companies to offset accumulated losses.

 

 

 

Adedeji, who was represented by Mr Victor Kajesomo, Head, Treaties and International Tax Policy Division, FIRS, said that the reforms were a bridge to a stronger and more effective economy.

 

 

 

He stated that the reforms introduced new rules for businesses and individuals, and restructured tax administration to simplify compliance and boost revenue generation.

 

 

 

Speaking, Mr Michael Ango, Executive Chairman, FCT-IRS, stated that effective tax administration plays a vital role in enhancing the ease of doing business.

 

 

 

According to him, well-structured and modernised tax systems reduce compliance burdens for businesses, foster voluntary compliance, and encourage investments.

 

 

 

He encouraged business owners and other stakeholders to support the government for effective implementation of the reform.

 

 

 

The Chairperson of the ACCI Women-in-Business group, Mrs. Chioma Njoku, said the reforms held significant benefits for women in enterprise, households and the informal sector.

 

 

 

According to her, the reviewed tax-exempt thresholds and expanded small-company definitions will help women entrepreneurs reinvest earnings, grow sustainably and transition into the formal economy.