Professional services firm KPMG has called on the Federal Government to urgently review Nigeria’s newly introduced tax laws, warning that aspects of the reforms could create uncertainty for businesses and investors if left unaddressed.
In its assessment of the new tax framework, KPMG noted that while the reforms aim to improve revenue generation and modernise the tax system, several provisions require clarification to avoid unintended consequences, double taxation, and compliance challenges for both local and foreign companies.
The firm stressed that clear guidelines, stakeholder engagement, and transitional arrangements are critical to ensuring the laws achieve their intended objectives without slowing economic activity. KPMG also urged tax authorities to prioritise consistency, transparency, and ease of administration to strengthen investor confidence.
The call comes amid broader debates among economists, business groups, and tax professionals over the impact of the new laws on Nigeria’s fragile economy, particularly at a time of rising inflation and cost-of-doing-business pressures.
OYOGist notes that the Federal Government has yet to formally respond to the concerns, as discussions around implementation and possible amendments continue.
