The Federal Government has held talks with top officials of global professional services firm, KPMG, following controversy surrounding Nigeria’s newly introduced tax laws. The meeting took place in Abuja amid growing concerns from business and professional circles over the impact of the reforms.
The engagement followed a KPMG Nigeria report highlighting what it described as errors, inconsistencies and gaps in the new tax framework, particularly on share taxation, dividends, non-resident obligations and foreign exchange deductions. The report had called for an urgent review of the laws.
However, during the meeting, the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, clarified grey areas in the Act and addressed issues raised by the firm. KPMG acknowledged that parts of its earlier position were misconstrued and expressed regret over the misunderstanding.
Both parties agreed that differing interpretations had created confusion among taxpayers and stressed the need for continuous engagement. KPMG commended the government for the timely rollout of the reforms, noting that its initial concerns had been largely addressed.
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