DESPITE controversies trailing the alleged alteration of the gazetted tax laws, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the Federal Government would commence the implementation of the laws on January 1, 2026, as planned.
He disclosed this on Friday, December 26, in Lagos State while briefing journalists after meeting with President Bola Tinubu.
The meeting also had in attendance the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, and the Chairman of the National Tax Policy Implementation Committee, Joseph Tegbe.
“The plan to commence the new laws on January 1, 2026, will go ahead as planned on schedule because these reforms are designed to provide relief to the Nigerian people,” he stated.
“Bottom 98 per cent of workers will see either no Pay As You Earn (PAYE) tax or lower taxes to be paid, small businesses, 97 per cent of them, will be exempted from Corporate Income Taxes, Value Added Tax (VAT), and Withholding Tax, and large businesses will see a drop in the taxes that they pay.
“The whole idea is to try and promote economic growth, inclusivity as well as shared prosperity for our people,” he added.
Oyedele welcomed the position of the National Assembly on the allegations about alteration. He explained that the Federal Government was ready to work with the federal lawmakers to address the concerns raised by Nigerians, including opposition figures, over the alleged alterations.
Recall that controversy had trailed the new tax laws. A member of the House of Representatives, Abdussamad Dasuki, recently raised concerns about what he described as discrepancies between tax laws passed by the National Assembly and the versions subsequently gazetted and made available to the public.
Dasuku argued that his legislative rights were breached because the content of the gazetted tax laws did not reflect what lawmakers debated and approved on the floor of the House.
Amid the controversies, the lawmakers, particularly the House of Representatives, confirmed that it was reviewing the tax laws following public backlash and allegations of unauthorised alterations to them by the executive.
Tinubu signed the four tax reform bills into law, marking what the government described as the most significant overhaul of the country’s tax system in decades.
The laws, which faced stiff opposition from federal lawmakers from the northern part of the country before their passage include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act – all operating under a single authority – the Nigeria Revenue Service.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.