Akinyele Oluwale & Co. - Expert Accounting Solutions

Nigeria’s New Tax Regime: What You Need to Know (Finance Act 2025)

At Akinyele Oluwale & Co., we are committed to keeping our clients informed about the latest regulatory changes affecting businesses and individuals in Nigeria.

The Finance Act 2025 represents one of the most significant tax reforms in Nigeria in recent years. Signed into law to simplify the tax system, reduce multiple taxation, and improve ease of doing business, the Act introduces several key changes:

Major Highlights:
Company Income Tax (CIT) reduced to 25% for large companies (from 30%).
Tertiary Education Tax significantly reduced from 2% to 0.5%.
- Strengthened rules against multiple taxation across federal, state, and local governments.
- Expanded scope of Value Added Tax (VAT) on digital services and luxury goods.
- Higher exemption thresholds for Capital Gains Tax and Personal Income Tax.
- Mandatory digital compliance through the new Rev360 platform.

New Tax Portal – Rev360
The Federal Inland Revenue Service (FIRS) has launched Rev360 (www.rev360.gov.ng), a unified digital platform for all federal tax filings and payments. This new system makes tax compliance easier, faster, and more transparent.

Our Advisory
These reforms present both opportunities and compliance requirements for businesses. Early adaptation will help you avoid penalties and optimize your tax position.

₦ 1,500,000

Auditing

When it comes to auditing, we at Akinyele Oluwale and Co. ensure that our reports are comprehensive, clear, concise, consistent, and constructive. Engage us for your periodic audits, due diligence, reconciliations, and investigations of your financial records. We give our attention to all entities, whether enterprises or any form of corporate body. We gather necessary documents, identify areas with potential financial risk or irregularities. Examine financial records, transactions, and internal controls. Compile findings in an audit report, highlighting any discrepancies and providing recommendations. Discuss the audit findings with management and ensure corrective actions are taken. Please note that our prices vary, and the quoted amount is for a small company.

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Simple steps to process

Gather necessary documents.

Identify areas with potential financial risk or irregularities.

Examine financial records, transactions, and internal controls.

Compile findings in an audit report, highlighting any discrepancies and providing recommendations.

Discuss the audit findings with management and ensure corrective actions are taken.

Customer Benefits

<p>Ensures financial statements are accurate and free of material misstatements.

Verifies adherence to regulatory and accounting standards.

Builds trust with investors and stakeholders by ensuring transparency.

Detects and helps prevent fraud and financial irregularities.

Identifies areas for improvement in financial and operational processes.</p>

Our Services

NSITF / ITF / BPP Compliance Certifications Processing Conversion/Re-registration of Company Company Search Filing of Annual Returns Registration of Limited Liability Companies Registration of Business Name Reservation of Name Payroll Management Bookkeeping Everything Tax Financial Modeling Auditing

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4 Mobolaji Bank Anthony St, Lagos Island, Lagos.

P.O. Box 520, Mushin, Lagos.

akinyeleoluwaleco@gmail.com

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