Ongoing tax reforms by President Bola Tinubu’s administration will lead to a drastic reduction in the number of taxes payable by businesses. The administration of President Bola Tinubu is working to reduce taxes in the country from the current 62 to a maximum of nine, in his determination to create a more business-friendly environment in the country. The reforms are aimed at creating a single-digit tax system, a situation where the total number of taxes a business or individual has to pay will be reduced to nine or fewer. The goal of the president’s reforms is to simplify the tax code and potentially lower the overall tax burden, making it easier and potentially cheaper for businesses to operate in Nigeria. #GreatnessIsComing.
