Echotitbits – Nigeria News

Category: Taxation|Government Policy

  • Presidency pushes back on KPMG critique of new tax laws, says reforms are deliberate

    Presidency pushes back on KPMG critique of new tax laws, says reforms are deliberate

    Reporting by Vanguard indicates the Presidency has rejected elements of a KPMG critique of Nigeria’s new tax laws, insisting the reforms were designed with specific policy trade-offs in mind.

    The report suggests the government is trying to calm uncertainty for businesses and investors, especially around implementation details, compliance costs, and transitional arrangements.

    Analysts say pushback alone won’t settle concerns; what matters is clarity—guidelines, timelines, dispute-resolution pathways, and how enforcement will be applied to SMEs and large corporates.

    Businesses will be watching for harmonisation to reduce multiple taxation and for improvements in tax administration to curb arbitrary charges.

    Echotitbits take: This is a credibility moment. Watch for implementing regulations and whether revenue agencies standardise processes—or whether the old ‘multiple levies’ problem persists.

    Source: Vanguard –  https://www.vanguardngr.com/2026/01/presidency-rebuts-kpmgs-claims-on-new-tax-laws-defends-reform-choices-2/ 11 January 2026

    Vanguard 2026-01-11

    Photo Credit: Vanguard

  • CISLAC demands full disclosure as tax-law ‘swap’ allegations spread

    CISLAC demands full disclosure as tax-law ‘swap’ allegations spread

    Photo Credit: The Nation
    2025-12-21 08:00:00

    According to The Nation, the Civil Society Legislative Advocacy Centre (CISLAC) has called for urgent transparency after claims that portions of recently assented tax legislation may not match what lawmakers passed.

    CISLAC argues that any mismatch between the National Assembly’s final text and the version signed into law would weaken public confidence, especially for tax provisions that directly shape compliance for businesses and households.

    The group is urging authorities to publish the exact assented copy and clarify how the final document moved from passage to assent, while encouraging lawmakers to treat the allegation as a governance issue rather than a partisan fight.

    Separately, Premium Times reported civil society calls for the government to “urgently publish the exact version of the tax law assented to,” while TheCable quoted a lawmaker warning that “This is a breach of the constitution… It is a very serious issue.”

    Echotitbits take: If the ‘passed vs signed’ versions truly differ, it becomes a process failure with real economic costs—compliance confusion, possible court challenges, and weaker investor trust. Watch for publication of the signed copy, any committee hearings, and whether a corrective technical-amendment bill is introduced.

    Source: The Nation — December 21, 2025 (https://thenationonlineng.net/cislac-demands-transparency-over-tax-law-controversy/)

    The Nation 2025-12-21

  • Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Photo credit: PunchNG (image on article page)
    2025-12-15

    According to The Punch, the Senate Committee on Finance criticised the Federal Government’s habit of running multiple budgets within a single fiscal year, warning it weakens fiscal discipline and planning.

    The report says the committee directed the Federal Inland Revenue Service (FIRS) to lift its 2026 revenue projection from ₦31tn to ₦35tn during discussions around the 2026–2028 MTEF/FSP.

    It also referenced a claimed revenue gap in the 2025 budget cycle, fueling arguments that rollovers and repeated revisions are becoming systemic.

    BusinessDay: “at least ₦35 trillion in revenue in 2026.”

    TheCable: “raise the 2026 target to N35 trillion from N31 trillion.”

    Analysis/Echotitbits take: This looks like early pressure-setting for 2026 budget negotiations. Watch whether FIRS follows with compliance tech, base-broadening, and enforcement—rather than new rate hikes—and whether the Executive adopts the higher benchmark.

    Source: The Punch — December 15, 2025 (https://punchng.com/senate-kicks-against-multiple-budgets-orders-firs-to-deliver-n35tn-revenue/)