Nigerian Tax Expert Urges Compliance with Annual Tax Filing Deadline

Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy Tax Reform, emphasized the importance of Nigerian individuals and businesses filing their annual tax returns by March 31 during a webinar. Oyedele highlighted the need for compliance with tax laws, stressing that many Nigerians are non-compliant.

He clarified that employees cannot assume their tax obligations end once their employers deduct taxes from their salaries. Oyedele assured Nigerians that efforts are being made to simplify the tax filing process, with the Joint Revenue Board and various state revenue services working to make it easier for taxpayers.

He also mentioned that businesses can enjoy tax incentives but must disclose these incentives when filing their tax returns. Compliance with tax laws is crucial, and taxpayers are required to disclose their earnings by March 31 of each year for the previous fiscal year.