Nigerians in Diaspora will enjoy tax holiday and other incentives,the Chairman, Presidential Fiscal Policy and Tax Reforms Committee Mr Taiwo Oyedele has said.
According to him, the federal government’s fiscal policy and tax reforms are protective and investors’ friendly, as well as encourages trade surplus, balance of payment, unified foreign exchange rates and harmonisation of collective taxes and levies.
He spoke during a joint virtual meeting with Hon Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM) in Abuja, Nigeria , organised for Nigerians living abroad.
He explained that there are exemption and reductions on WHT rates, Higher exemptions thresholds for small businesses, eliminate tax on investment and capital, incentive rationalisation, reduction of VAT burden and other structural and fiscal constraints.
The meeting was aimed at correcting the misinformation spreading across the media space on the impact of the Reforms as they affect the Nigerian Diaspora global community, a statement from the Media, Public Relations and Protocols Unit, Gabriel Odu said.
Dabiri-Erewa said Diasporas are strategic and major contributors to National Development, and should be duly informed of the impact of the new Fiscal Policy and Tax Reform Laws, scheduled to commenced in January 2026.
Mr Oyedele emphasised that the reforms are people-centric, growth-focused and efficiency-driven.
Some grey areas and issues needing clarifications were addressed.
These include questions such as: will monies sent to Nigeria be taxed? What about Double taxation and tax treaties with other countries? Non-resident taxation? What about Income Taxes on Diasporas? What about impact on Small businesses? What about impact on Real Estate investment? Impact on retired Diasporas with property in Nigeria? Do we have tax filing obligations in Nigeria while abroad?