March 31 is non-negotiable: Taiwo Oyedele says all Nigerians must file tax returns, PAYE or not

Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has warned that all Nigerians are legally required to file annual tax returns by March 31, regardless of their income level or whether Pay-As-You-Earn (PAYE) deductions have already been made.

Oyedele gave the clarification during a recent webinar organised in collaboration with the Joint Revenue Board (JRB), which brought together human resource managers, payroll officers, chief financial officers, and tax managers. The session was later shared on his YouTube channel on Friday.

He explained that employers are statutorily mandated to file annual tax returns on behalf of their employees, including projections of staff remuneration for the year.

“In terms of filing returns, you need to file annual returns as employers for your employees. Many of you must have done that already,” Oyedele said. “If you haven’t, you have just a couple of days left to do so, including projections of how much you will pay your staff.”

The fiscal policy expert lamented widespread non-compliance across the country, noting that even the most advanced states struggle with low filing rates.

“This is one area where we have been non-compliant in Nigeria. In many states, more than 90 percent cannot boast of even 5 percent compliance in filing returns,” he added.

Oyedele also debunked the common assumption that employees whose taxes are deducted through PAYE are exempt from filing personal income tax returns.

“Many people assume that if they are an employee and the employer has deducted PAYE, they don’t have to do anything. That is wrong,” he said. “Both under the old and new tax laws, you must still file your returns.”

He stressed that the obligation applies to all taxpayers, including low-income earners, while assuring that tax authorities are working to simplify the process.

“All of us must file our returns, including those earning low income. You must file returns by March 31 in respect of the previous fiscal year,” Oyedele stated.

On recent tax reforms, he disclosed that businesses benefiting from tax incentives are now required to declare such incentives when filing their tax returns or shortly thereafter, in line with the new tax law.