Every Nigerian is required to file their tax returns on or before March 31 each year, according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.
Oyedele made this call while speaking during a webinar organised for HR managers, payroll officers, Chief Financial Officers (CFOs), and tax managers, in collaboration with the Joint Revenue Board. The webinar was later shared on YouTube on Friday.
He explained that the law clearly states that both employers and individual taxpayers must file annual tax returns, and failure to do so amounts to non-compliance.
According to him, many employers already file tax returns for their employees every year, but there are still some organisations that have not met this obligation. He warned such employers that the deadline is very close.
“In terms of filing returns, employers are required to file annual returns for their employees. Many of you may have done that already, but if you haven’t, you only have a few days left. This includes submitting projections of how much you intend to pay your staff,” Oyedele said.
Beyond employers, Oyedele stressed that individual taxpayers must also file their own self-assessment tax returns, even if they are salary earners.
He noted that tax compliance among individuals in Nigeria remains very poor, describing it as one of the biggest challenges facing the country’s tax system.
According to Oyedele, in many states across Nigeria, more than 90 percent of people do not file tax returns. He added that even the most advanced states cannot boast of up to 5 percent compliance when it comes to individual tax filings.
Oyedele also addressed a common misunderstanding among workers, where many believe their tax responsibility ends once their employer deducts Pay-As-You-Earn (PAYE) tax from their salary.
“Many people assume that if they are employees and their employer has deducted tax from their salary, they don’t need to do anything else. That assumption is wrong,” he said.
He explained that both the old and new tax laws require individuals to still file their tax returns, regardless of whether their employer has already deducted tax on their behalf.
Oyedele further assured Nigerians that tax authorities are aware of the difficulties involved in filing tax returns and are actively working to make the process simpler, faster, and more accessible.
He said agencies such as the Joint Revenue Board and State Internal Revenue Services are developing systems and procedures to encourage compliance and reduce stress for taxpayers.
He also emphasized that everyone is required to file tax returns, including people earning low income.
“All of us must file our returns. You must file returns by the 31st of March of each year in respect of the previous fiscal year,” he stated.
In addition, Oyedele highlighted a new requirement under the ongoing tax reforms for businesses that enjoy tax incentives.
He explained that companies benefiting from tax reliefs, exemptions, or incentives are now required to disclose those benefits when filing their tax returns.
According to him, this disclosure requirement is aimed at promoting transparency and accountability in the tax system.
“If you operate a business as an enterprise and you enjoy certain tax incentives, you have an obligation to disclose those incentives. This must be done when filing your tax returns or shortly after,” Oyedele said.
He concluded by urging Nigerians to take tax compliance seriously, noting that filing tax returns is not just a legal duty but also an important step toward improving governance and national development.
