Ogun Traders Briefed on New Tax Reforms for Growth

On Thursday, traders in Ogun State were briefed on new tax reforms during a sensitization drive organized by the Ogun State Internal Revenue Service in collaboration with the Chartered Institute of Taxation Nigeria. The event, held in Magboro, aimed to educate the grassroots about the importance of tax compliance and the benefits it brings to the community.

Oladel Zaka, Director of Tax Operations at the Ogun State Internal Revenue Service, emphasized the need to address historical anxieties surrounding tax collection. The new tax law exempts low-income earners earning below ₦800,000, encouraging voluntary payments among small taxpayers.

Funmilola Ogundip highlighted the convenience of the new tax system, which integrates digital platforms for self-assessment. The initiative aligns with President Bola Ahmed Tinubu's goal to raise awareness about tax responsibilities, particularly among those unfamiliar with the tax system, thereby fostering trust and engagement within the community.