From Edgar onyema
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged Nigerians to meet the legal requirements for filing their annual tax returns, stressing that compliance is compulsory for both individuals and employers.
Oyedele delivered the reminder during a webinar held for human-resources personnel, payroll officers, chief financial officers, and tax managers. The session, organised in partnership with the Joint Revenue Board, was later posted on YouTube.
He noted that many employers and individual taxpayers still neglect their filing responsibilities despite clear provisions in the law.
According to him, organisations are expected to submit annual returns covering staff earnings and tax deductions, and those who have not done so have little time left to comply.
He added that individual taxpayers must also file self-assessment returns, a requirement that he said is widely ignored across the country.
Oyedele described the level of non-compliance as extremely high, pointing out that even in states with more developed administrative structures, filing rates remain very low.
He explained that employees often assume that once taxes have been deducted from their salaries by their employers, they have no further obligations.
He stressed that this belief is incorrect, noting that both previous and current tax laws still require individuals to file their personal returns regardless of payroll deductions.
The committee chairman assured participants that efforts are underway to make the process easier for taxpayers. He said tax agencies at both state and federal levels are working to simplify procedures so that more Nigerians can fulfill their obligations.
He reminded workers that returns for the preceding tax year must be filed by March 31. The same deadline applies to low-income earners, who are also expected to submit their information.
Oyedele added that businesses enjoying tax incentives now have specific disclosure requirements. Under the revised tax laws, such incentives must be declared when filing annual returns or shortly afterward.
He further noted that employers must file their annual returns by January 31 each year, covering employees’ remuneration and the corresponding tax deductions.
