On Monday, the Federal Government held a meeting in Abuja with senior officials from global professional services firm KPMG to discuss concerns arising from the implementation of Nigeria’s new tax laws.
The session comes amid growing debate within the business community about how the new tax framework affects companies and taxpayers.
The discussion follows a KPMG Nigeria report titled “Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions,” which highlighted several problematic areas in the legislation.
KPMG had flagged issues concerning the taxation of shares, treatment of dividends, obligations for non-resident entities, and foreign exchange deductions, warning that the provisions could have negative implications for businesses and taxpayers. The firm called for a review of the laws, noting “errors, inconsistencies, gaps, omissions, and lacunae” that it argued required urgent attention.
In response, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, defended the new tax framework, stating that the intent of the reforms had been misunderstood. He maintained that KPMG Nigeria did not fully appreciate the objectives and structure of the legislation.
During Monday’s meeting, Dr. Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service (NRS), clarified several areas of concern raised by KPMG. According to reports, his explanations helped clear up ambiguities and offered insight into the government’s policy goals behind the reforms.
Following the discussion, the KPMG delegation acknowledged that its earlier critique of the laws had been misinterpreted and expressed regret over any misunderstanding. The firm also sought additional clarity on certain provisions and suggested areas where professional input could still be considered.
Both parties agreed that differences in interpretation had contributed to confusion among taxpayers and emphasized the importance of ongoing engagement to address issues as they arise. KPMG also praised Dr. Adedeji for his leadership and for the effective and timely rollout of the tax reforms, noting that many of its initial concerns had been addressed.
In a statement on X, the Nigeria Revenue Service confirmed the meeting, saying: “The Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, today received a delegation of top management from KPMG on a courtesy visit. The KPMG executives commended the Executive Chairman for his leadership and the timely implementation of the new tax laws, noting that their initial apprehensions have been significantly allayed.”
The NRS added that KPMG reaffirmed the reforms as “both necessary and timely” and pledged continued collaboration to support effective tax administration and national economic growth.
Since the tax reforms were introduced, some Nigerians, including opposition figures such as former Vice President Atiku Abubakar and former Labour Party candidate Peter Obi, have criticized the government, claiming the measures increase the tax burden on citizens already facing economic hardship.
Do you think the government is pressuring KPMG to soften its stance on the tax laws? Share your thoughts in the comments.
