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Presidential Fiscal Policy and Tax Reforms Committee refutes claims of errors in Nigeria's new tax laws
via Punch Nigeria1 hour ago2 min read
The Presidential Fiscal Policy and Tax Reforms Committee has refuted media reports alleging that the Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s new tax laws. In a statement released on Sunday via Oyedele’s X handle, the committee labeled these reports as “misleading” and a misrepresentation of the minister’s comments. The committee clarified that publications falsely claimed Oyedele urged Nigerians to await a “legislative probe,” a process it stated was concluded, with gazetted copies certified by the National Assembly published in early January 2026. The committee warned that such narratives could distort public understanding of the reforms. It highlighted that Oyedele, during a fireside chat at the Nigerian Bar Association Section on Legal Practice conference in Lagos, discussed early successes of the tax reforms. These include an increase in informal businesses registering with the Corporate Affairs Commission and a rise in registered taxpayers from approximately 10 million to over 100 million nationwide. The committee attributed these outcomes to provisions in the new tax laws, such as exemptions for small companies and low-income earners, and tax relief on essential goods and services, including food, education, healthcare, transportation, and rent, along with the introduction of a Tax Ombud. While Oyedele acknowledged that no law is perfect and emphasized the need for continuous stakeholder engagement to address gaps through future amendm
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Original source
This summary was AI-generated from a story originally published by Punch Nigeria.
