Taiwo Oyedele Urges Nigerians to File Annual Tax Returns Before Deadline

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy Tax Reform, has urged Nigerians to file their annual tax returns, emphasizing the need for both employers and individuals to comply with tax laws. During a webinar organized for HR managers, payroll officers, CFOs, and tax managers, Oyedele highlighted the non-compliance issue in Nigeria, with only a small percentage filing self-assessment returns.

He stressed that filing annual returns is mandatory, and failure to do so could result in penalties. Oyedele assured Nigerians that the tax authorities are working to simplify the filing process.

The deadline for filing returns is set for March 31st of each year for the previous fiscal year. Oyedele also mentioned that businesses can benefit from tax incentives but must disclose these incentives in their returns.

Compliance with tax laws is crucial for all taxpayers in Nigeria.