{"id":9606,"date":"2025-03-24T06:20:18","date_gmt":"2025-03-24T06:20:18","guid":{"rendered":"https:\/\/edumarkng.com\/news\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/"},"modified":"2025-03-24T06:20:18","modified_gmt":"2025-03-24T06:20:18","slug":"tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth","status":"publish","type":"post","link":"https:\/\/edumarkng.com\/news\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/","title":{"rendered":"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/03\/image-161.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019\" title=\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019\" \/><\/div><p>\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019, <\/p>\n<p>The Small and Medium\u00a0Enterprises Development Agency of Nigeria (SMEDAN) says the tax reform bill will eliminate regulatory bottlenecks and boost micro small and medium enterprises\u2019 (MSMEs) growth.<\/p>\n<p>Charles Odii, SMEDAN\u2019s director-general (DG), spoke on Friday during a stakeholder engagement on tax reforms organised by the agency in Abuja.<\/p>\n<p>The event, themed \u201cUnderstanding the Tax Reform Bills: <a href=\"https:\/\/www.vanguardngr.com\/tag\/tax\/\">Benefits<\/a> and How MSMEs Can Maximise Tax,\u201d brought together key industry stakeholders, offering business owners an opportunity to seek clarification and gain insights into the provisions of the tax reform bill.<\/p>\n<p>Odii said that once passed into law, the bill would remove multiple taxation and exempt businesses with annual earnings below N100 million from key tax obligations.<\/p>\n<p>\u201cWe have 39,654,385 nano, micro small and medium enterprises (MSMEs) in Nigeria, and the first step towards ensuring their success is sensitisation,\u201d he said.<\/p>\n<p>\u201cMany small business owners are unaware that if this tax reform bill is passed, they will no longer be required to pay VAT, CIT, PAYE, and several other taxes.\u201d<\/p>\n<p>The DG further said the reform aims to encourage business formalisation and expansion by removing excessive taxation fears.<\/p>\n<p>He also commended the House of Representatives for passing the bill and urged the senate to follow suit.<\/p>\n<p>\u201cWhen small businesses flourish, the entire economy benefits. This reform will remove unnecessary regulatory bottlenecks, allowing MSMEs to thrive,\u201d Odii said.<\/p>\n<p>Abdulrashid Yerima, president of the Nigeria Association of Small and Medium Enterprises (NASME), also lauded the proposed reforms, emphasising that they address key challenges faced by small businesses, particularly multiple taxation and arbitrary levies by regulatory agencies.<\/p>\n<p>\u201cOur members have long struggled with excessive taxation at different levels; import duties, levies on turnover, and arbitrary charges from state and local governments,\u201d Yarima said.<\/p>\n<p>\u201cThe chairman of the tax reform committee has clarified that many of these burdens will be eliminated once the bill becomes law.\u201d<\/p>\n<p>Yerima further stressed the need for proper implementation to prevent unauthorised tax collectors and non-state actors from imposing levies on small businesses.<\/p>\n<p>The post <a href=\"https:\/\/www.vanguardngr.com\/2025\/03\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/\">\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019<\/a> appeared first on <a href=\"https:\/\/www.vanguardngr.com\/\">Vanguard News<\/a>.<\/p>\n<p>, <\/p>\n<p>The Small and Medium\u00a0Enterprises Development Agency of Nigeria (SMEDAN) says the tax reform bill will eliminate regulatory bottlenecks and boost micro small and medium enterprises\u2019 (MSMEs) growth. Charles Odii, SMEDAN\u2019s director-general (DG), spoke on Friday during a stakeholder engagement on tax reforms organised by the agency in Abuja. The event, themed \u201cUnderstanding the Tax Reform [\u2026]<\/p>\n<p>The post <a href=\"https:\/\/www.vanguardngr.com\/2025\/03\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/\">\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019<\/a> appeared first on <a href=\"https:\/\/www.vanguardngr.com\/\">Vanguard News<\/a>.<\/p>\n<p>, <!-- no image -->, Urowayino Jeremiah, {authorlink},, , Vanguard News, March 24, 2025, 6:20 am<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019, The Small and Medium\u00a0Enterprises Development Agency of Nigeria (SMEDAN) says the tax reform bill will eliminate regulatory bottlenecks and boost micro small and medium enterprises\u2019 (MSMEs) growth. Charles Odii, SMEDAN\u2019s director-general (DG), spoke on Friday during a stakeholder engagement on tax reforms organised by the agency in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9607,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"fifu_image_url":"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/03\/image-161.png","fifu_image_alt":"","footnotes":""},"categories":[1,8],"tags":[],"class_list":["post-9606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019 - EduNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/edumarkng.com\/news\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019 - EduNews\" \/>\n<meta property=\"og:description\" content=\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019, The Small and Medium\u00a0Enterprises Development Agency of Nigeria (SMEDAN) says the tax reform bill will eliminate regulatory bottlenecks and boost micro small and medium enterprises\u2019 (MSMEs) growth. Charles Odii, SMEDAN\u2019s director-general (DG), spoke on Friday during a stakeholder engagement on tax reforms organised by the agency in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/edumarkng.com\/news\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"EduNews\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/edumarkconsult\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-24T06:20:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/03\/image-161.png\" \/>\n<meta name=\"author\" content=\"eduadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/03\/image-161.png\" \/>\n<meta name=\"twitter:creator\" content=\"@EdumarkNG\" \/>\n<meta name=\"twitter:site\" content=\"@EdumarkNG\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eduadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/\"},\"author\":{\"name\":\"eduadmin\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/#\\\/schema\\\/person\\\/a5b374d36d8a925f42febcfabddf8339\"},\"headline\":\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019\",\"datePublished\":\"2025-03-24T06:20:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/\"},\"wordCount\":445,\"publisher\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdn.vanguardngr.com\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/image-161.png\",\"articleSection\":[\"Business\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/\",\"url\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/\",\"name\":\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019 - EduNews\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdn.vanguardngr.com\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/image-161.png\",\"datePublished\":\"2025-03-24T06:20:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cdn.vanguardngr.com\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/image-161.png\",\"contentUrl\":\"https:\\\/\\\/cdn.vanguardngr.com\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/image-161.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/tax-reformll-eliminate-regulatory-bottlenecks-boost-msmes-growth\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018Tax reform\u2019ll eliminate regulatory bottlenecks, boost MSMEs growth\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/edumarkng.com\\\/news\\\/\",\"name\":\"EduNews\",\"description\":\"No1 Education &amp; 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