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By Philip Nwosu
The Rivers State Mega Region of Mountain of Fire and Miracles Ministries (MFM) has organised a public seminar on Nigeria’s new tax law, aimed at educating church members and the general public on the implications, benefits and compliance requirements of the policy.
The seminar, which formed part of the church’s Corporate Social Responsibility (CSR) initiatives, created an interactive platform between participants and agencies involved in the implementation of the new tax law.
In his welcome address, the Mega Senior Regional Overseer of MFM, Rivers State Mega Region, Pastor Olawole Dahunsi, emphasised the church’s commitment to lawfulness and community transformation. He said MFM remains a law-abiding ministry that teaches its members to obey the law and serve as agents of positive change in society.
Pastor Dahunsi noted that the church has undertaken several humanitarian, welfare and CSR programmes aimed at empowering members, host communities and the wider public to become economically independent and self-reliant. He explained that the public seminar was one of the church’s empowerment initiatives.
He expressed gratitude to the General Overseer of MFM Worldwide, Dr Daniel Kolawole Olukoya, and his wife, Dr (Mrs) Folashade Elizabeth Olukoya, for their directive to intensify efforts at impacting lives beyond spiritual teachings. He also appreciated the support of the Assistant General Overseer in charge of African Nations, Pastor Lawrence Olashehinde.
The seminar featured presentations on key areas of the new tax regime, including analysis of the new tax law, benefits and opportunities, implications for businesses and individuals, compliance requirements, PAYE and other taxes in Rivers State, company income tax, capital markets and securities taxation, Tax Identification Number (TIN) requirements, tax exemptions, business status under the new law, and remote or diaspora income taxation.
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A tax consultant and auditor, Pastor Kola Bamiwuye, stressed the importance of obtaining a Tax Identification Number and complying with personal income tax obligations. He highlighted the need for individuals and companies to register for TINs and comply with statutory requirements, including pension administration.
Also speaking, Mr Simeon Taiwo, Lead Consultant and Founder of Clarylife Global, addressed issues around remote and diaspora income, as well as Nigeria’s digital income tax. He explained that the new tax framework captures foreign salaries, online freelance earnings, foreign exchange gains and proceeds from digital asset transactions. He urged digital earners to maintain proper records, obtain withholding tax certificates where applicable and file annual returns through official portals, warning that improved data-sharing between tax authorities, banks and digital platforms makes compliance more critical.
Other speakers included Mr Godgift Ebelogu of the Rivers State Internal Revenue Service, who spoke on PAYE and other state taxes, and Mr Ike Ukwuoma, who discussed TIN and Nigerian tax law, encouraging the public to obtain their TINs for seamless transactions nationwide.
In her presentation, Hon Mrs Ani Christabel spoke on business registration and branding, advising participants on how to generate unique business names and the importance of registering with the Corporate Affairs Commission (CAC). She also highlighted the need to file annual returns, pay taxes and consider upgrading to a limited liability company in line with the new tax policy for businesses with higher annual turnover.
The seminar provided participants with a clearer understanding of Nigeria’s tax laws, their implications and available reliefs for low-income earners. Participants were also encouraged to comply strictly with tax regulations in view of penalties for non-compliance, while a question-and-answer session allowed attendees to seek further clarification from the panel of experts.
