Tinubu Administration And KPMG Hold Discussions On Tax Law Concerns

According to Ireporter Online, the Federal Government convened a meeting with senior officials from KPMG on Monday to discuss concerns surrounding Nigeria’s recently implemented tax laws. The session, held in Abuja, aimed to address issues raised by the professional services firm regarding perceived inconsistencies and gaps in the legislation.

The engagement followed a report by KPMG Nigeria titled “Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions,” which highlighted potential challenges for businesses and taxpayers. Among the concerns raised were provisions affecting share taxation, dividend treatment, obligations of non-resident entities, and foreign exchange deductions. The firm recommended a review of the legislation, citing “errors, inconsistencies, gaps, omissions, and lacunae” that required urgent attention.

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, had earlier defended the reforms, suggesting that KPMG had misunderstood the policy intent and framework of the new tax system.

During the meeting, the Executive Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, clarified the government’s position and explained specific areas of concern. The KPMG delegation acknowledged that its earlier report had been misinterpreted and expressed appreciation for the clarifications provided. The firm also sought further guidance on certain provisions and discussed professional recommendations that could support the ongoing reforms.

Both parties agreed that differences in interpretation had contributed to taxpayer confusion and emphasized the need for continued engagement to address emerging issues. The KPMG team commended Dr Adedeji for the effective and timely implementation of the reforms, noting that many of its initial concerns had been resolved.

In a statement shared on , the Nigeria Revenue Service confirmed that the meeting was constructive, with KPMG recognizing the reforms as “both necessary and timely” and pledging ongoing collaboration to support effective tax administration and national economic growth.