Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has cautioned Nigerians that filing annual tax returns remains compulsory, even for employees whose taxes are already deducted at source.
Oyedele gave the reminder during a webinar organised for HR managers, payroll officers, CFOs and tax managers, in collaboration with the Joint Revenue Board, stressing that many taxpayers misunderstand their legal obligations.
“It is a common misconception that once tax has been deducted from your salary, your responsibility ends there. That is not correct, Both under the old and the new tax laws, employees are still required to file their annual returns,” Oyedele said.
He revealed that compliance with self-assessment filing is alarmingly low nationwide, noting that even the most advanced states struggle to record up to five per cent of residents filing annual tax returns.
Oyedele also reminded employers of their statutory duty to submit annual returns for their employees, including projected salary payments, warning that only a few days remain before the March 31 deadline.
While acknowledging efforts by tax authorities to simplify the filing process, he emphasised that the obligation applies to all Nigerians, including low-income earners, for the preceding fiscal year.
“Everyone is required to file their returns by March 31, regardless of income level,” he said.
In addition, Oyedele disclosed that businesses benefiting from tax incentives must now explicitly declare such benefits when filing returns, explaining that the new tax law introduces stricter disclosure and transparency requirements.
He urged individuals and organisations to comply promptly, noting that improved tax compliance is critical to Nigeria’s broader fiscal reform agenda.