Tax experts dispels anxiety over reform, say not harmful

By Henry Uche

The Chartered Institute of Taxation of Nigeria (CITN) has reassured Nigerians that the new tax regime kicking off from January 2026, is not targeted against anyone in particular, but geared towards strengthening the national economy.

Urging the public to stay calm, the President /Chairman of Council of the Institute, Mr. Innocent Ohagwa who gave this assurance at the Pre- induction Orientation Programme, maintained that all vulnerable entities up to N100 million and other grey areas have been taken care of.

The President said the Reform Act has no negative form, however the challenges are at the sub- national levels. “Another name for the reform is ‘ease of doing business’. So many categories of businesses are exempted. There is no need for alarm. If you are not used to paying tax before now, you may have need to worry by next year. Those who are not compliant should consults their tax advisors and authorities now to regularize their situation so that by next year, there would be a smooth ride.”

He warned that anyone including corporates outside the tax net would have some challenges when integration begins as technology would expose whole lot of hidden sharp practices. “If you have been outside the tax net before now, it would be very difficult for you to navigate. So If you are not in good standing with your tax authority either at state or federal level, go now regularize it.

“We shall continue to advocate for voluntary compliance so that people can reap the benefits and relief involved. Before the end of the year, all grey areas would be addressed, especially the area of harmonizing numerous charges. A lot of waivers and exemptions are there, the low income earners are exempted but not exempted from obtaining tax I.D, because that is very important for proper capture” he added.

To the prospective inductees, the guest speaker, Mr. Joseph Alatishe, an Associate Director at Deloitte, charged them to shun corrupt practices and deliver accountable, transparent and responsible services. “To whom much is given, much is expected. We expect significant changes in the tax regime. We shall measure how people -friendly the tax regime would be as time goes by. I’m one of the optimists. With CITN, the tax authorities are ensuing everyone is covered”he affirmed.