Tax Updates: Key Tax Compliance Risks and Priorities in 2026

August 6, 2026

Nigeria’s tax landscape has undergone its most significant transformation in decades. Four new laws are now redefining how the country taxes and monitors businesses:

• Nigeria Tax Act (NTA)
• Nigeria Tax Administration Act (NTAA)
• Nigeria Revenue Service Act (NRSA)
• Joint Revenue Board Act (JRBA)

For Financial Services Institutions (FSIs), the implications go beyond routine tax accounting. This includes banks, insurers, microfinance institutions, and securities firms. The reforms affect tax costs, compliance obligations, and financial reporting in 2026.

This Tax Update from Kreston Pedabo’s Tax Services team breaks down the key changes FSIs need to know. It covers the new 15% Minimum Effective Tax Rate (METR) and Controlled Foreign Company (CFC) rules. It also breaks down changes to withholding tax, VAT recoverability, and capital gains tax. Read on to see where the compliance risks and opportunities lie.