The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged 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 appeal during a webinar organised in collaboration with the Joint Revenue Board and aimed at human resources professionals, payroll officers, chief financial officers and tax managers.
In his remarks during the session, which was later shared on YouTube, Oyedele observed that a large number of Nigerians still neglect their self-assessment tax filing duties.
He explained that employers are required to submit annual tax returns for their employees, including payroll projections. According to him, while many organisations have complied, those yet to do so have only a short window left to meet the deadline.
Oyedele also emphasised that individuals are equally obligated to file their own self-assessment tax returns, noting that compliance levels remain extremely low across the country.
“This is a major area of non-compliance in Nigeria,” he said, adding that even the most advanced states struggle to record up to five percent compliance, with over 90 percent of taxpayers failing to file returns.
He clarified that under both the old and newly introduced tax laws, employees cannot rely solely on taxes deducted by their employers to meet their legal responsibilities.
“Many workers believe that once their employer deducts tax from their salary, their obligation ends. That assumption is incorrect. Regardless of deductions at source, you are still required to file your returns,” he stated.
Oyedele assured Nigerians that tax authorities are working to simplify the filing process to improve compliance nationwide.
He stressed that all taxpayers, including low-income earners, must submit their returns no later than March 31 each year for the preceding fiscal year.
Additionally, Oyedele disclosed that businesses benefiting from tax incentives now face additional disclosure requirements under the new tax regime.
He explained that companies enjoying tax reliefs are mandated to declare such incentives when filing their tax returns or shortly thereafter, in line with provisions of the updated tax laws.