US EditionNigeria: KPMG Identifies Errors, Inconsistencies, Gaps, Others in New Tax Laws
KPMG identified critical drafting flaws in Nigeria's 2026 tax laws that may hinder investment, while the government committee defends them as deliberate policy choices.
- On January 1, 2026, KPMG Nigeria said it identified errors, inconsistencies, gaps and omissions in the new tax laws assented by President Bola Ahmed Tinubu in June 2025.
- The Presidential Fiscal Policy and Tax Reforms Committee proposed the package to improve oversight and modernize Nigeria's tax administration, while KPMG Nigeria urged balancing revenue generation and sustainable growth.
- KPMG flagged Sections 39 and 40 of the Nigeria Tax Act, noting capital gains ignore inflation despite National Bureau of Statistics showing over 18 percent average inflation from 2022 to 2025, and recommended cost indexation.
- Market data show sharp sell-offs and investor sensitivity, with NGX All-Share Index value falling in November amid capital gains tax uncertainty; UNCTAD reports FDI inflows remain below pre-2019 levels.
- To reduce disputes, KPMG Nigeria recommended that Nigerian tax authorities issue administrative guidance clarifying reporting thresholds, harmonise the NTA and NTAA, and exempt non-resident companies fully settled through withholding tax.
21 Articles
21 Articles
Oyedele reacts to KPMG’s review of Nigeria’s tax laws
In a post on X (formerly Twitter) on Saturday, Mr Oyedele claimed that KPMG does not properly understand most of the issues it pointed out in its review, and equally missed the context on broader reforms objectives. The post Oyedele reacts to KPMG’s review of Nigeria’s tax laws appeared first on Premium Times Nigeria.
KPMG Identifies 'major Loopholes' In New Tax Laws
KPMG, globally renowned auditing firm with expertise on tax services, says it has identified loopholes in the new tax laws. The Presidential Fiscal Policy and Tax Reforms Committee had said it proposed the laws to provide better oversight on government revenues, and streamline tax administration in Nigeria to bring it closer to best practices globally and improve efficiencies in tax administration. However, since President Bola Tinubu assented t…
Oyedele Responds to KPMG’s Observations on Nigeria’s New Tax Laws
By Modupe Gbadeyanka The chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has responded to the alleged errors and others observed in the controversial tax laws of Nigeria, which fully became effective January 1, 2026. In an analysis posted in a newsletter posted on its website, the Nigerian arm of […]
Coverage Details
Bias Distribution
- 60% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
