Common Myths About the New Tax Law
There has been widespread misinformation about Nigeria’s revised personal income tax framework. Tap each myth to reveal the factual clarification.
Fact
No new personal income taxes are being introduced. Many Nigerians may pay less or nothing depending on income level.
Fact
Only income is taxable. Gifts, remittances, and personal transfers are not classified as taxable income.
Fact
There is no automatic debit system. Taxes are paid through self-assessment or employer deductions.
Fact
Small earners below the tax-free threshold are exempt from personal income tax.
Fact
VAT has been removed on essential items such as food, education, and healthcare.
⚠️ This information is provided for educational purposes only and does not constitute legal or tax advice. For official guidance, consult recognized tax authorities or licensed professionals.