Impact of New Tax Act 2026 on Salary Earners in Nigeria

Objectives: The study examined impact of new tax act 2026 on salary earners in Nigeria. Prior Work: The inconsistent of previous tax acts with identification of some features encouraged current study. Approach: This study used quantitative and descriptive survey design, the data were gathered from questionnaires distributed to the respondents; analyzed through descriptive and inferential statistics. Results: The findings disclosed that awareness of salary earners showed B-coefficient = -0.128, (p-value) = 0.133 & standard alpha t = 0.05, perception of salary earners displayed B-coefficient = -0.252 and a p-value = 0.017; recent spending patterns showed B-coefficient = 0.884, a Beta = 0.777, and a significance = 0.000, and recent savings patterns declared that t-value = 11.840 & B-coefficient 0.884. Implications: It was concluded that ascertaining awareness and examining perception of salary earners on the new tax law disclosed positive effects as not concurrent to spending and savings. On other side, the impact of new tax act 2026 on spending and savings disclosed insignificant relationship as income earners might find it difficult to save and incur expenditure. Value: It was recommended that government should ensure total enforcement on income earners with aim of removing evasion, and revenue derived from the new act 2026 should be used to provide essential items to the members of public.