Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged all employers and individual taxpayers in Nigeria to file their annual tax returns on or before March 31, warning that compliance remains critically low nationwide.
Oyedele made the call during a tax compliance webinar organised for HR managers, payroll officers, chief financial officers and tax managers, in collaboration with the Joint Revenue Board. The session was published on YouTube on Friday.
He said employers are required by law to file annual returns for their employees, including payroll projections, noting that some organisations still have only a few days left to meet the deadline. He also stressed that individuals must file self-assessment returns, even when taxes have already been deducted at source under the Pay-As-You-Earn (PAYE) system.
According to Oyedele, poor compliance with individual tax filings remains a major challenge, with several states recording filing rates below five per cent, despite large taxpayer populations.
He clarified that tax obligations do not end with employer deductions, adding that both the old and reformed tax laws require every taxable individual, including low-income earners, to submit annual returns for the preceding fiscal year by March 31.
Oyedele further disclosed that under the ongoing tax reforms, businesses benefiting from tax incentives are now required to formally disclose such incentives when filing their returns or shortly after.
He assured taxpayers that revenue authorities are working to simplify the filing process and improve voluntary compliance.
