TAX REFORMS STILL ON TRACK! Taiwo Oyedele Smashes ‘Fake News’ About Tax Guidelines Suspension; Tells Businesses: ‘No Going Back!’

Nigeria’s tax “czar,” Taiwo Oyedele, is setting the record straight. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms has come out to flatly deny rumors that the government has suspended the new tax law guidelines.

If you heard that the reforms were on hold, Oyedele says you should “delete that information.” Speaking to clarify the situation, he made it clear that the journey to a simpler, fairer tax system in Nigeria is still moving at full speed. The rumors of a “u-turn” had caused some confusion in the business community, with many wondering if they should stick to the old ways of doing things.

“There is no suspension,” Oyedele confirmed. He explained that the guidelines were carefully crafted to help not hurt the economy. The goal remains to stop the “headache” of multiple taxes that have been killing small businesses for years.

The committee is currently working hard to make sure that “taxing the seed” becomes a thing of the past, focusing instead on taxing the “fruit.” This means the government is looking to collect revenue in a way that allows businesses to grow first.

For now, the message to every business owner and corporate organization in Nigeria is simple: ignore the gossip. The new tax rules are here to stay, and the government is committed to making them work for everyone.