LASUSTECH Executes Revised 2026 PAYE Tax Law For Staffs

By Shuaib Abdulquadri , Igwe Grace

The Lagos State University of Science and Technology (LASUSTECH) has commenced the implementation of the revised 2026 Pay-As-You-Earn (PAYE) Tax Law, introducing a new tax structure that will affect employees' monthly salary deductions from July 2026.

The development was disclosed in an official memorandum issued by the Office of the Registrar and signed by the Registrar, Mr. David Semawon Ogungbe. The memorandum informed members of staff that the university has begun full implementation of the Revised Tax Law in line with statutory requirements governing public institutions.

According to the circular, the new PAYE framework introduces marginal adjustments to taxable income bands while maintaining a progressive tax system designed to ensure that higher-income earners pay proportionately higher tax rates.

Under the revised tax schedule, the first ₦800,000 of annual income remains exempt from taxation. The next ₦2.2 million will be taxed at 15 per cent, followed by 18 per cent on the next ₦9 million. The subsequent ₦13 million will attract a tax rate of 21 per cent, while the next ₦25 million will be taxed at 23 per cent. Any taxable income above ₦50 million annually will attract a 25 per cent tax rate.

The university noted that the implementation reflects its commitment to complying with prevailing tax regulations and ensuring transparency in payroll administration. Although the adjustments are expected to result in changes to staff tax deductions, the institution described the revisions as marginal when compared with the previous tax structure.

The Registrar urged staff members seeking clarification on the implementation or computation of the new deductions to contact the Bursary Department for guidance.

However, the implementation of the Revised PAYE Tax Law is expected to align the university's payroll system with current statutory tax provisions while reinforcing compliance with government fiscal policies.

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