The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Federal Government is committed to formalizing small businesses through the implementation of new tax regulations. He made the announcement at the official signing of the Presumptive Tax Regulations at the Ministry of Finance headquarters in Abuja.

Edun described the signing as a major step from legislation to structured implementation of ongoing tax reforms. He noted that the new framework is designed to ease the transition of small and micro businesses from the informal sector into the formal economy.

According to the minister, the Ministry of Finance will work closely with the Joint Revenue Board to develop a simplified and inclusive tax structure. The goal, he said, is to provide small businesses with a clear and supportive entry point into the formal system, enabling them to grow and access broader economic opportunities.

A

‎