Daily Tax News Summary
The United Nations’ upcoming Financing for Development conference and Nigeria’s sweeping tax reforms dominated international tax news on 27 June 2025. Human Rights Watch (HRW) urged governments to back a UN framework convention on international tax cooperation, while President Bola Tinubu signed four bills that overhaul Nigeria’s federal revenue architecture.
Summary for Taxpayers
- HRW says international tax cooperation is essential to finance basic rights such as health and education. JURIST
- UN negotiations toward a tax convention are expected to finish by 2027. Human Rights Watch
- The fourth UN Financing for Development conference opens 30 June 2025 in Seville, Spain. Human Rights Watch
- Nigeria has created a single federal collector—the Nigeria Revenue Service—by law. Punch
- A new value-added tax sharing formula in Nigeria will take effect 1 January 2026. Punch
Key Developments
Group presses UN to promote global tax cooperation to protect human rights
- Source: JURIST Legal News (26 June 2025) – Salma Ben Mariem
- Key Facts:
- HRW stated that the UN Fourth International Conference on Financing for Development (FFD4) “should focus on promoting international tax cooperation to ensure the realization of human rights worldwide.”
- The organisation argued that “protecting human rights and achieving the Sustainable Development Goals requires a fair taxation system.”
- HRW urged states to support the draft UN Framework Convention on International Tax Cooperation aimed at closing revenue gaps, particularly in the Global South.
- Quote: “International tax practices … inhibit governments from raising revenue needed to enhance the protection and realization of human rights.” – HRW, quoted by JURIST
Human Rights Treaty Bodies and Tax
- Source: Human Rights Watch Background Briefing (26 June 2025)
- Key Facts:
- HRW notes that under the International Covenant on Economic, Social and Cultural Rights, states must “use the maximum available resources” to realise rights, linking domestic and international tax policy to human rights obligations.
- Negotiations “around a new United Nations tax convention … are expected to conclude by the end of 2027.”
- The convention’s terms of reference require that efforts “be aligned … with States’ obligations under international human rights law.”
- Quote: The briefing stresses that “tax policy is inextricably bound up with governments’ human rights obligations.”
UN Financing Development Meeting Should Advance Tax Justice
- Source: Human Rights Watch News Release (26 June 2025)
- Key Facts:
- FFD4 will begin on 30 June 2025 in Seville, bringing together governments, civil society and businesses to address “global systemic barriers” to financing development.
- HRW published a database compiling tax-related references made by UN treaty bodies.
- Civil society organisations will host a day-long conference on 27 June to highlight the nexus between taxation and public services.
- Quote: “The Financing for Development Conference in Seville is a chance for the international community to commit to meaningful change,” said Lama Fakih, Acting Deputy Executive Director at HRW.
Federal revenue agencies face shake-up as Tinubu signs tax bills
- Source: Punch Newspapers (27 June 2025)
- Key Facts:
- President Bola Tinubu signed four tax reform bills, signalling “Nigeria’s readiness for modern economic growth and international investment.”
- The laws establish the Nigeria Revenue Service (NRS) as “the sole body responsible for collecting federally chargeable taxes,” potentially removing that mandate from agencies such as the Nigeria Customs Service and the Nigerian Upstream Petroleum Regulatory Commission.
- A new VAT sharing formula is set to begin on 1 January 2026.
- Quote: Tinubu declared, “We have opened the door for new economic and business opportunities. We are showing that Nigeria is truly ready and open for business.”
Tinubu Signs 4 Tax Reform Bills Into Law
- Source: News Agency of Nigeria (26 June 2025)
- Key Facts:
- The News Agency of Nigeria confirmed Tinubu’s assent to the four bills at the State House, Abuja.
- The agency reported that the reforms aim to modernise Nigeria’s tax system and improve revenue mobilisation.
- Quote: NAN reported Tinubu describing the enactment as “a turning point in the nation’s fiscal direction.”
President Tinubu Signs Tax Reform Bills Into Law
- Source: Voice of Nigeria (26 June 2025)
- Key Facts:
- Voice of Nigeria likewise noted that the legislation seeks to streamline tax administration and boost investor confidence.
- The outlet highlighted federal-state cooperation during the legislative process.
- Quote: According to VON, Tinubu praised “stakeholders for demonstrating leadership and courage through the process.”
Prepared by MyTax – mytax.com.ng