THE Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged all Nigerians both individuals and employers to comply with the law by filing their annual tax returns on or before March 31, warning that widespread non-compliance remains a major challenge to Nigeria’s fiscal system.
News Point Nigeria reports that 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, which was later shared on YouTube on Friday, focused on improving tax compliance and clarifying obligations under Nigeria’s evolving tax framework.
Addressing participants, Oyedele stressed that employers are legally required to file annual returns for their employees, including projections of staff remuneration and associated tax obligations.
“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,” he said.
Beyond employers, Oyedele emphasised that individual taxpayers must also submit their own self-assessment returns, describing compliance levels across the country as alarmingly 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 compliance in filing returns,” he noted.
The fiscal policy expert clarified that employees cannot assume their tax obligations end once their employers deduct Pay-As-You-Earn (PAYE) taxes from their salaries.
“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,” Oyedele explained.
He added that the filing requirement applies to all income earners, including low-income workers, noting that filing returns is a legal obligation regardless of earnings level.
“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,” he said.
Oyedele assured Nigerians that tax authorities are working to simplify the filing process through collaboration between the Joint Revenue Board and state internal revenue services.
“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,” he stated.
He also disclosed that under the new tax laws, businesses benefiting from tax incentives are now required to formally disclose such incentives when filing their returns.
“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. There is now a disclosure requirement for tax incentives, which must be made when filing your tax returns or shortly after,” Oyedele said.
The renewed emphasis on compliance, he noted, is part of broader fiscal reforms aimed at expanding Nigeria’s tax base, improving transparency, and reducing reliance on borrowing to fund government expenditure.
Oyedele urged Nigerians to see tax compliance not just as a legal requirement but as a civic responsibility essential for sustainable national development.