Taiwo Oyedele
Abayomi Susan
Nigerians, mark your calendars! The deadline for filing tax returns is March 31, 2026, according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. This applies to all individuals, including those earning low income .
Employers, on the other hand, need to file annual returns by January 31 each year, covering employee emoluments and tax deductions. So, if you’re an employer, you’ve got a couple of days left to get it done.
But here’s the thing: many Nigerians assume that if their employer deducts taxes from their salary, they’re good to go. Not true! Both old and new tax laws require individuals to file their returns, even if their taxes are deducted at source.
The government is working to make the filing process simpler and more accessible. “I’m sure the tax authorities, joint revenue boards, and various state internal revenue services are working on how to make this process simpler and easier,” Oyedele said .
Businesses benefiting from tax incentives also need to disclose them in their returns. This is a new requirement under the tax law, aimed at improving transparency and compliance.
Compliance rates are currently low, with even the most sophisticated states struggling to reach 5% filing returns. Oyedele urged Nigerians to take compliance seriously, noting that improved filing rates are essential to strengthening fiscal accountability and supporting sustainable economic reforms.
The new tax laws aim to widen the tax base and strengthen revenue collection. With the deadline approaching, it’s time to get your tax affairs in order.
Tax authorities have promised public guidance and online tools to help citizens meet the March 31 deadline. So, keep an eye out for those resources.
