Taiwo Oyedele has announced that land, buildings and rent are now fully exempt from Value Added Tax under the Nigeria Tax Act 2025.
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that land, buildings and rent are now fully exempted from Value Added Tax (VAT) under the Nigeria Tax Act 2025. Oyedele disclosed that the new law has already commenced and forms part of broader fiscal reforms aimed at easing economic pressures.
Oyedele explained that the legislation was designed to reduce the cost of housing, encourage investment in the real estate sector and provide relief for tenants and small businesses across the country. He noted that land and buildings are specifically exempt from VAT under the new tax regime.
According to him, the exemption means individuals buying land or completed buildings will no longer pay VAT on such transactions. He added that the exemption also applies to rent, making both residential and commercial .
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