The Federal Government has reiterated that all Nigerians, including individuals, employers, and low-income earners, are legally required to file their annual tax returns on or before March 31 each year.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, made this known during a webinar organised in collaboration with the Joint Revenue Board. The session was targeted at human resource professionals, payroll administrators, chief financial officers, and tax managers across the country.
Oyedele stressed that tax compliance remains compulsory under Nigerian law, noting that many employers are yet to meet their annual filing obligations. He explained that employers are required to file returns on behalf of their employees, including projections of staff earnings and taxes payable.
According to him, individuals are also mandated to submit self-assessment tax returns, a requirement he said has suffered from widespread non-compliance nationwide. Oyedele revealed that in many states, less than five percent of eligible taxpayers file their annual returns, even in states considered to be economically advanced.
He clarified that workers cannot rely solely on Pay-As-You-Earn (PAYE) deductions made by employers to satisfy their tax responsibilities. Oyedele emphasized that both existing and newly introduced tax laws require employees to file annual returns regardless of employer deductions.
The tax reform committee chairman assured Nigerians that tax authorities are working to simplify filing procedures to improve compliance and participation. He added that the obligation to file tax returns applies to all income categories, including low-income earners, and must be completed by March 31 for the preceding fiscal year.
Oyedele further disclosed that companies benefiting from tax incentives now face additional disclosure obligations under the new tax framework. Businesses enjoying such incentives are required to declare them during tax filing or shortly after, in line with the updated regulations.
