Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged Nigerians to comply with statutory tax filing requirements, warning that both employers and individuals must submit their annual returns within legally stipulated timelines.
Oyedele made the call during a webinar organised for human resource managers, payroll officers, chief financial officers and tax managers, in collaboration with the Joint Revenue Board. The session, shared on YouTube on Friday, focused on improving tax compliance across the country.
He reminded employers that their annual tax returns — detailing employees’ emoluments and projected payments — are due by January 31 each year, noting that many organisations still fail to meet the deadline.
“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.
The reform committee chairman also stressed that individual taxpayers are required to file self-assessment returns by March 31 for the preceding fiscal year, describing current compliance levels as alarmingly low nationwide.
“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 stated.
Oyedele clarified that salary deductions by employers do not exempt workers from filing personal tax returns, stressing that this obligation exists under both the old and new tax laws.
“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 said.
He added that tax authorities are working to simplify filing procedures nationwide to encourage broader participation, assuring Nigerians that systems are being put in place to make the process more accessible.
“I’m sure the tax authorities, joint revenue boards and various state internal revenue services are working on how to make this process simpler and easier. All of us must file our returns, including those earning low income,” Oyedele noted.
The fiscal policy expert also disclosed that businesses enjoying tax incentives are now required to declare such benefits when submitting their annual returns, in line with new reform provisions.
“Under the new tax law, if you operate a business as an enterprise and you enjoy certain incentives, you have the obligation to disclose those incentives,” he said, adding that the disclosure must be made during filing or shortly afterward.
Oyedele reaffirmed that employer annual returns remain due by January 31 each year, while individual self-assessment filings must be completed by March 31, urging Nigerians to embrace compliance as a civic responsibility essential to national development.
