TAX Archives - Afinju FM

TOM Calls on FG to Reconsider Implementation of Tax Policy

Boluwatife Ajayi — Tue, 30 Dec 2025 15:04:30 +0000

The Osun Masterminds (TOM), a civil society organization based in Osun, has urged the Federal Government to reconsider its tax policy scheduled to take effect on January 1, 2026, emphasizing that this policy is causing anxiety among citizens.

The Society made this known through its Executive Director, Wasiu Oyedokun-Alli, while speaking with newsmen at this month’s State of the State address, where he noted that there has been a certain conflicting narrative around the policy even from the committee.

The Society also called on the Federal Government to create more palliative programs aimed at cushioning the hardship in the land, adding that they are in support of Socio-Economic Rights and Accountability Project, SERAP’s decision to hold states accountable over the removal of the fuel subsidy fund.

While acknowledging the reduction in fuel price, the society also called for intensified efforts towards ensuring petrol price crashes further ease pressure on average citizen.

The Society further called on the Governor of Osun State, Ademola Adeleke, to reorganize the Western Nigeria Security Network Corps (Amotekun) in the State, emphasizing that the threat of terrorism and banditry is imminent.

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Ndume Urges Tinubu to Suspend Controversial Tax Reform Acts

Boluwatife Ajayi — Wed, 24 Dec 2025 16:05:19 +0000

Former Senate Leader Ali Ndume has called on President Bola Ahmed Tinubu to suspend the implementation of the disputed Tax Reform Acts amid rising controversy surrounding their passage.

Ndume appealed in a statement issued in Abuja, citing claims and counter-claims over alleged alterations to the tax laws after they were passed by the National Assembly.

The appeal comes amid protests by opposition politicians and civil society organisations, including the Nigerian Bar Association, which have demanded that the Federal Government halt the implementation of the laws.

Reacting, Ndume, who represents Borno South Senatorial District, urged Tinubu to set up an ad hoc committee to verify the authenticity of the laws and investigate the alleged alterations.

The former Senate Chief Whip warned that implementing the laws without resolving the allegations would create legitimacy challenges and undermine public trust.

He said, “With the controversy surrounding it, the President should constitute a team to verify the veracity of the claim and act accordingly.

“As a responsive leader that he has always been, he should look into it to find out whether the claim of alterations was genuine so that he will do the needful to bring the controversy to rest.

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New Tax Laws Will Take Effect January 1 – FG

Boluwatife Ajayi — Tue, 23 Dec 2025 10:16:54 +0000

The Federal Government has insisted that the implementation of the newly enacted tax laws will take effect from January 1, insisting that there has been no change to the version signed into law.

The Minister of Information and National Orientation, Mohammed Idris, clarified in Abuja amid public controversy over reports that the gazetted copy of the Tax Administration Act had been altered.

Idris said the laws followed the proper legislative route, including consultations, debates at the National Assembly and eventual assent by the President, stressing that the administration recognises only one authentic version.

“Government is going ahead with commencement of implementation, noting as changed,” Idris said last night.

He explained that concerns about possible discrepancies in the gazette were raised at the National Assembly and that the executive would rely on the outcome of the legislature’s probe.

He said: “I think it is important for us to wait for the National Assembly to look at this again to tell us whether there were discrepancies or not.

“This is, at this point, an affair of the National Assembly to which I have no jurisdiction, and I have no authority to speak about.

“As far as the government of Nigeria is concerned, there’s only one version of that tax document.”

The minister spoke while reviewing the performance of the Tinubu administration in 2025, outlining achievements as well as challenges faced during the year.

His stance was supported by the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, and the immediate past Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, who both urged Nigerians to ignore unofficial documents in circulation.

Oyedele warned against drawing conclusions from unverified copies of the law, noting that there was confusion about what constituted the final version approved by lawmakers. He explained that only the harmonised document certified by the Clerk of the National Assembly and transmitted to the President could be regarded as binding.

He said: “The official harmonised bills certified by the clerk, which the National Assembly sent to the President, we don’t have a copy to compare. Only the lawmakers can say authoritatively what was sent…

“Even I cannot say that I have it. I only have what was presented to Mr President to sign.”

Addressing widespread claims about a controversial clause, particularly Section 41(8), which suggested a requirement for a 20 per cent deposit, Oyedele said the provision had been misunderstood.

“I know that particular provision is not in the final gazette, but it was in the draft gazette,” he said.

He disclosed that after reaching out to the House of Representatives committee handling the matter, he was informed that no formal decision had been taken, attributing the confusion to premature actions by unidentified individuals.

“Some people decided that they should write the report of the committee before the committee had met, and it had circulated everywhere,” Oyedele said.

Urging patience, he maintained that the circulating document did not originate from the committee set up by the House and called on the public to allow lawmakers to conclude their inquiry.

“What is out there in the media did not come from the committee set up by the House of Representatives. I think we should allow them to do their investigation,” Oyedele said on Channel Television’s Morning Brief.

Source: TVC

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UK deputy PM Steps Down Over Tax Error

Afinju FM — Fri, 05 Sep 2025 13:37:25 +0000

Rayner, had earlier admitted not paying enough on the flat purchase and referred herself to the government’s independent ethics adviser.

In a letter to Starmer, ethics chief, Laurie Magnus, wrote that Rayner had failed to “heed the caution” of legal advice she had received and had therefore breached the ministerial code.

“Given the findings, and the impact on my family, I have therefore decided to resign,” Rayner wrote in a letter to Starmer, adding she would also be stepping down as housing minister and deputy leader of the Labour Party.

“I deeply regret my decision to not seek additional specialist tax advice,” Rayner said, adding she took “full responsiblity for this error”.

In his reply, Starmer told her he was “very sad” to lose her from government, but added: “You will remain a major figure in our party”.

Rayner disclosed that she had underpaid on the so-called stamp duty on a flat in southern England following days of reports suggesting that she had saved £40,000 ($53,000) by removing her name from the deeds of another property.

Source: UK former deputy PM John Prescott dies at 86

She said that after her 2023 divorce, she sold her part of the family home to the trust fund to protect it for her child’s future and used the money for the flat purchase.

She paid less of the property surcharge because she claimed it was her main home rather than a second home, but later conceded this was wrong because her son is under 18 years old.

Magnus said Rayner had “acted with integrity and with a dedicated and exemplary commitment to public service” but concluded he considered the “code to have been breached”.

Rayner had often been tipped to become Labour leader one day and has been a top target for political attacks by the Conservatives and right-wing media.

Source: Punch

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Tinubu Introduces Personal Income Tax Calculator For Nigerians

Afinju FM — Fri, 22 Aug 2025 11:31:09 +0000

This was disclosed in a post on the President’s official X account.

The statement disclosed that the calculator allows citizens to compare their estimated tax under the proposed reforms with current rates, and ensure a clear understanding of the impact on individual incomes.

Tinubu said the reforms, which take effect from January 2026, are intended to establish a fair tax system, one that ensures transparency and never punishes poverty or weighs down the most vulnerable.

He said, “A fair tax system must never punish poverty or weigh down the most vulnerable.

“With the new tax laws I recently signed, taking effect from January 2026, we have lifted this burden and created a path of equity, fairness, and true redistribution in our economy.

Tinubu stated further, “Together, we are renewing hope in the Nigeria of our dreams. He called on Nigerians to take a bet on the country.

The Personal Income Tax calculator can be accessed on https://fiscalreforms.ng/index.php/pit-calculator/

Source: Punch

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