The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has called on Nigerians to ensure they submit their annual tax returns on or before March 31, stressing that compliance is a legal obligation for both employers and individual taxpayers.
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, focused on improving tax compliance across the country.
He explained that employers are required to file annual returns for their employees, including projections of staff earnings and tax liabilities, noting that the deadline was fast approaching for those yet to comply.
According to him, individual taxpayers are equally mandated to submit self-assessment returns, an area he described as one of Nigeria’s weakest points in tax administration.
Oyedele observed that compliance levels remain extremely low, revealing that even in states considered more advanced, fewer than five per cent of taxpayers regularly file their returns.
He also clarified a common misconception among salary earners, warning that tax obligations do not end once employers deduct Pay-As-You-Earn (PAYE) from salaries.
“Many employees believe that once tax has been deducted at source, there is nothing more to do. That assumption is incorrect,” he said, adding that both existing and newly introduced tax laws require individuals to file annual returns regardless of deductions made by employers.
Oyedele assured taxpayers that efforts are underway to simplify the filing process, with tax authorities and state internal revenue services working to make compliance easier and more accessible, including for low-income earners.
He emphasized that all individuals are expected to file returns by March 31 for the preceding fiscal year.
In addition, he disclosed that under the new tax regime, businesses benefiting from tax incentives are now obligated to declare such incentives when filing their returns or shortly afterward, in line with enhanced disclosure requirements introduced by the reforms.
