NRS Clarifies No 25% Tax on Building Materials

Nigeria Revenue Service (NRS) has dismissed claims online that the Nigeria Tax Act 2025 imposes a 25% tax on building materials, construction funds, or related transactions. The Service stated the Act is already in effect and designed to ease financial pressure on housing and construction sectors, not increase costs. Misinformation circulating in a video falsely claimed the Act would start in 2027 with higher taxes. The NRS emphasized the Act provides VAT exemptions on residential property sales/leases, mortgage interest relief up to ₦8 million, and incentives for Real Estate Investment Trusts (REITs). It urged Nigerians to rely only on official government channels for tax information.

SOURCE: https://dailypost.ng/2026/02/16/no-25-on-building-materials-nrs-clarifies/