The Federal Government has inaugurated an Inter-Ministerial Committee to draft the 2026 VAT Modification Order, a key step in implementing Nigeria’s new tax laws. The Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, swore in the committee tasked with reviewing VAT “Exempt and Zero-rated” provisions under the Nigeria Tax Act, as well as recommending a clearer, more practical framework for businesses and tax administrators.
The committee, drawn from the Finance Ministry, Nigeria Revenue Service, Customs, Trade Ministry, Manufacturers Association of Nigeria, Tax Advisory Committee, Tax Justice and Governance Platform, has six weeks to submit a draft Order, updated exemption schedules, and a stakeholder consultation report.
