OYEDLELE URGES NIGERIANS TO FILE ANNUAL TAX RETURNS, WARNS AGAINST NON-COMPLIANCE
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By Aishat Momoh. O.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has called on Nigerians to comply with the law by filing their annual tax returns, stressing that the obligation applies to both employers and individual taxpayers.
Oyedele made the call during a webinar organised for HR managers, payroll officers, chief financial officers and tax managers, in collaboration with the Joint Revenue Board. The webinar was posted on YouTube on Friday.
He noted that many Nigerians remain non-compliant with the filing of self-assessment returns, despite clear legal requirements.
“In terms of filing returns, you need to file annual returns as employers for your employees. Many of you must have done that already. If you haven’t, you have just a couple of days left to file those returns, including projections of how much you will pay your staff,” Oyedele said.
He added that individual taxpayers are also required to file self-assessment returns, lamenting that compliance levels across the country remain extremely low.
“This is one area where we have been non-compliant in Nigeria. In many states, more than 90 per cent—even the most sophisticated states—cannot boast of five per cent filing returns,” he said.
Oyedele clarified that employees cannot assume their tax obligations end once deductions are made by their employers, noting that both the old and new tax laws mandate individual filing.
“Many people assume that if they are an employee and the employer has deducted pay, they don’t have to do anything. That is wrong. Both under the old and new tax laws, you must still file your returns,” he explained.
He assured Nigerians that tax authorities are working to simplify the filing process, adding that everyone, including low-income earners, is required to file returns.
“All of us must file our returns, including those earning low income. You must file returns by 31st March of the year in respect of the previous fiscal year,” Oyedele said.
The tax reform chairman also disclosed that businesses benefiting from tax incentives are now required to declare them in their returns under the new tax law.
“Under the new tax law, if you operate a business and enjoy certain incentives, you have an obligation to disclose those incentives when filing your tax returns or shortly after,” he added.
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