FG Insists All Nigerians Must File Annual Tax Returns by March 31

ByEditor

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The Federal Government has reaffirmed that every Nigerian taxpayer must file annual tax returns by March 31, 2026, even if Pay As You Earn (PAYE) tax has already been deducted from salaries.

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made the call during a webinar organised in collaboration with the Joint Revenue Board that was later shared publicly on YouTube.

Oyedele advised that employers are legally required to file annual returns for their staff, including projections of salaries and tax liabilities, and noted that many organisations had yet to meet the January 31 employer filing deadline.

Beyond employer responsibilities, he emphasised that individual taxpayers must also submit self-assessment returns and cannot assume that their obligation ends simply because tax is deducted at source by employers.

He described widespread non-compliance with filing requirements as a significant challenge, with fewer than five percent of eligible taxpayers filing returns across many states.

The requirement applies to all students or workers earning income, including low-income earners, and authorities are working with state internal revenue services to simplify the process and encourage compliance ahead of the 31 March deadline.

Under the new tax regime introduced for 2026, businesses that benefit from tax incentives must now disclose such incentives when filing their returns or shortly after, in a bid to improve transparency and broaden the tax base.

The renewed push for compliance comes amid broader tax reforms aimed at strengthening revenue collection and formalising Nigeria’s tax system, part of changes introduced by the Fiscal Policy and Tax Reforms Committee last year.

These reforms seek to modernise tax administration and expand coverage beyond traditional categories, including freelancers and digital economy workers.

Tax experts and revenue authorities have also warned that failure to file by the statutory deadline could expose individuals and businesses to penalties under existing tax laws.