By Charles Maduka
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has called on Nigerians to ensure they file their annual tax returns as required by law, stressing that the obligation applies to both employers and individual taxpayers.
Oyedele made the call during a webinar organised for human resources managers, payroll officers, chief financial officers and tax managers, in collaboration with the Joint Revenue Board. The session was later shared on YouTube.
He explained that employers are required to file annual returns for their employees, including projections of staff earnings and taxes payable. Oyedele noted that while some organisations have complied, others still have only a short window left to meet the requirement.
He also emphasised that individuals are equally expected to file their self-assessment returns, describing compliance in this area as very poor across the country. According to him, even states with advanced tax systems record extremely low rates of individual tax return filings.
Oyedele warned against the common assumption by employees that their tax responsibilities end once deductions are made from their salaries by employers. He stated that under both the old and new tax laws, individuals are still legally required to file their returns regardless of deductions at source.
He assured taxpayers that efforts are being made by tax authorities, joint revenue boards and state internal revenue services to simplify the filing process. Oyedele stressed that all taxpayers, including low-income earners, must file their returns by March 31 each year for the preceding fiscal year.
He further disclosed that under the new tax framework, businesses benefiting from tax incentives are now mandated to disclose such incentives when filing their returns or shortly afterwards. According to him, this disclosure requirement is a key part of the ongoing reforms aimed at improving transparency and accountability in the tax system.
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