In an effort to address emerging concerns over Nigeria’s recently enacted tax legislation, the Federal Government convened a meeting on Monday with senior representatives from KPMG Nigeria in Abuja. The discussions aimed to resolve confusion arising from how the new laws could impact businesses and individual taxpayers.
The engagement followed the publication of a report by KPMG titled “Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions.” The document highlighted potential challenges regarding taxation of shares, the treatment of dividends, obligations for non-resident entities, and foreign exchange deductions. The firm called for a legislative review to address what it described as “errors, inconsistencies, gaps, omissions, and lacunae.”
During the meeting, Dr. Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service (NRS), provided clarifications on ambiguous areas of the tax act, explaining the rationale behind the government’s reforms and alleviating some of the concerns raised by KPMG.
“The Executive Chairman of the Nigeria Revenue Service today received a delegation of top management from KPMG on a courtesy visit. The KPMG executives commended him for his leadership and the timely implementation of the new tax laws, noting that their initial apprehensions have been significantly allayed,” the NRS stated on 𝕏.
KPMG acknowledged that some of their earlier concerns had been misinterpreted and expressed regret over the misunderstanding, while also seeking further clarification on certain technical provisions. Both sides agreed that differing interpretations of the legislation had caused confusion among taxpayers and emphasized the need for ongoing dialogue.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, also defended the reforms, suggesting that the firm may have misunderstood the objectives of the new tax framework.
Implications for Businesses and Tax Administration
The meeting underscores the importance of collaboration between the government and professional advisory bodies to ensure that reforms are practical and clearly communicated. Analysts suggest that engaging with KPMG and other stakeholders helps enhance confidence among investors and businesses while ensuring smooth implementation of tax policies.
By addressing ambiguities proactively, the government aims to strengthen tax compliance, avoid unnecessary disputes, and support economic growth. KPMG’s confirmation that the reforms are “both necessary and timely” signals professional endorsement, encouraging continued professional participation in shaping Nigeria’s fiscal landscape.
© 2025 Gossip News Now, a division of CHIEJOS HARBIAN DIGITAL MEDIA LTD. Contact us via admin@gossipnewsnow.online
