New tax law introduces rent relief capped at N500k for Nigerians
[NigerianEye - Nigeria] - 1er/08/2025
The federal government has abolished the longstanding consolidated relief allowance and personal relief for individuals under Nigeria’s personal income tax system, replacing it with a rent-based deduction mechanism as contained in the newly enacted Tax Act. According to the Act, the total income of an individual for any year of assessment is to be computed as “the taxable income less total deduction”. Under the new provisions, taxable income includes “assessable profits from trade, business, profession or vocation, employment income, investment income, profits or income from any other (…)
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