{"id":3616,"date":"2026-07-29T14:39:51","date_gmt":"2026-07-29T14:39:51","guid":{"rendered":"https:\/\/tona.today\/?p=3616"},"modified":"2026-07-29T14:39:52","modified_gmt":"2026-07-29T14:39:52","slug":"oyedele-sets-up-new-vat-modification-order-cttee","status":"publish","type":"post","link":"https:\/\/tona.today\/?p=3616","title":{"rendered":"Oyedele sets up new VAT Modification Order C\u2019ttee"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has inaugurated an Inter-Ministerial Committee to develop the 2026 Value Added Tax (VAT) Modification Order.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Ministry\u2019s Head , Information and Public Relations, Efe Ovuakporie, in a statement, this morning said the committee was Inaugurated in Abuja, on Friday, in a move aimed at ensuring the effective implementation of Nigeria\u2019s new tax laws.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Burna Boy - Higher [Official Music Video]\" width=\"980\" height=\"551\" src=\"https:\/\/www.youtube.com\/embed\/eKzmRnetw-c?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. Oyedele was quoted as saying the committee\u2019s work would \u201cprovide greater certainty for businesses, investors and tax administrators,\u201d and thst the assignment was critical to the successful implementation of the Tax Reform Acts, which came into effect on January 1, 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. Raymond Omachi, the Permanent Secretary of the Ministry of Finance was named the Chairman of the committee.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The minister described the reforms as the most far-reaching overhaul of Nigeria\u2019s tax system in decades, noting that they were designed to simplify tax administration, improve certainty, enhance the country\u2019s competitiveness, protect vulnerable Nigerians and lay a stronger foundation for sustainable economic growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to him, the previous VAT Modification Order, which was issued under the now repealed VAT Act, had served its purpose, but a new Order had become necessary to align with the provisions of the Nigeria Tax Act, 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis is not about reproducing an old document. It is about developing a VAT Modification Order that is clear, practical and responsive to the needs of a changing economy,\u201d Oyedele said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He explained that the new Order should eliminate ambiguity, simplify compliance for taxpayers, support investment decisions and provide tax administrators with clearer guidance for implementing the law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Minister directed the committee to undertake a comprehensive review of the legal framework, administrative practices and policy directives governing VAT administration, with particular attention to VAT-exempt and zero-rated provisions contained in Part IV of the Nigeria Tax Act, 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He tasked members with identifying areas requiring further clarification and engaging extensively with stakeholders across government, the organised private sector, professional bodies and other interest groups to validate classifications and resolve implementation concerns.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oyedele also instructed the committee to recommend a comprehensive schedule of VAT-exempt and zero-rated supplies, taking into account revenue implications, social impact, Nigeria\u2019s treaty obligations and regional integration commitments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, the committee is expected to prepare a practical VAT Modification Order that aligns with the provisions of the Nigeria Tax Act and recommend amendments to the Tax Reform Acts and other enabling laws where necessary to strengthen implementation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Minister urged members to ensure that their recommendations remained faithful to both the letter and spirit of the new tax laws, adding that the Order should promote industrial growth, attract investment, encourage exports, strengthen food security, foster innovation and support Nigeria\u2019s energy transition without undermining the integrity of the VAT system. <a href=\"https:\/\/www.vanguardngr.com\/2026\/07\/oyedele-sets-up-new-vat-modification-order-cttee\/\">(Vanguard)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has inaugurated an Inter-Ministerial Committee to develop the 2026 Value Added Tax (VAT) Modification Order. The Ministry\u2019s Head , Information and Public Relations, Efe Ovuakporie, in a statement, this morning said the committee was Inaugurated in Abuja, on Friday, in a move [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[3686,3684,3124,3126,3682,3685],"class_list":["post-3616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-nigeria-tax-act","tag-raymond-omachi","tag-taiwo-oyedele","tag-tax","tag-value-added-tax","tag-vat-modification-order"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oyedele sets up new VAT Modification Order C\u2019ttee - Tona Today<\/title>\n<meta name=\"description\" content=\"The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has inaugurated an Inter-Ministerial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tona.today\/?p=3616\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oyedele sets up new VAT Modification Order C\u2019ttee - 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