The Presidential Fiscal Policy and Tax Reforms Committee has dismissed reports claiming that the Minister of State for Finance, Taiwo Oyedele, admitted to making mistakes in Nigeria’s new tax laws.
In a statement shared on Sunday, the committee described the reports as false and misleading, saying they misrepresented the minister’s comments.
According to the statement, the reports wrongly suggested that Oyedele asked Nigerians to wait for the outcome of a legislative probe. The committee clarified that the legislative process had already been completed, and the approved tax laws were officially published earlier in January 2026.
The minister explained that his recent remarks were focused on the positive impact of the new tax reforms. He highlighted that more informal businesses are now registering with the Corporate Affairs Commission (CAC), and the number of Nigerians registered for tax has increased significantly from about 10 million to over 100 million.
He also pointed out key benefits of the new tax laws, including tax exemptions for small businesses, relief for low-income earners, and removal of taxes on essential items such as food, education, healthcare, transportation, and rent. The reforms also introduced a Tax Ombudsman to protect taxpayers’ rights.
While noting that no law is perfect, Oyedele stressed the importance of continuous engagement with stakeholders to identify and fix any gaps through future updates.
The committee urged the public to ignore misleading reports and rely on official sources for accurate information about the country’s tax reforms.
No comments:
Post a Comment