June 13, 2024

Taiwo Oyedele, the newly appointed revenue adviser to the president, has declared that Nigerians who evade tax payment will face severe consequences under the leadership of resident Bola Tinubu. As the chair of the Presidential Committee on Fiscal Policy and Tax Reforms, he emphasized that tough times await those who do not fulfill their tax obligations. Their daily economic activities will now be closely linked to their National Identification Number (NIN) or Corporate Affairs Commission (CAC) registrations.

During an event at Radisson Blu, Lagos, in collaboration with BudgIT on July 21, Mr. Oyedele made it clear that he intends to make life difficult for tax evaders. He asserted that those without NIN or CAC registration will encounter obstacles such as unemployment, travel restrictions, inability to obtain passports, open bank accounts, or access payment cards.

Mr. Oyedele, formerly associated with PwC, one of the world’s Big Four accounting firms, expressed his dissatisfaction with the tax identification methods used during the previous Muhammadu Buhari administration. He proposed the use of technology to gather tax intelligence instead. According to his plan, the government will assess citizens’ economic transactions to determine their true financial status and calculate an appropriate tax levy accordingly.

His suggestion involves abandoning the use of various tax identifications and solely relying on NIN for individuals and CAC registrations for businesses. By associating every economic activity with the respective NIN, the government can gather intelligence and approach taxpayers with accurate information about their worth and tax compliance status.

However, it should be noted that Mr. Oyedele’s current stance contradicts his previous position in 2016 when he opposed Babatunde Fowler’s suggestion to require proof of tax payment before providing immigration services and obtaining a passport. At that time, Mr. Oyedele argued that owning a passport is a right for all Nigerian citizens, including those without tax obligations, including minors and the elderly who may not be tax compliant. He also pointed out that some people may urgently need passports for medical treatment abroad.

As of now, there has been no response from Mr. Oyedele to clarify why he is proposing a policy he opposed in the past, and attempts to reach him by phone have been unsuccessful, according to the Peoples gazzette.

Leave a Reply

Your email address will not be published. Required fields are marked *