Our attention has been drawn to the various reactions to our recent newsletter on Nigeria’s new tax laws. The newsletter has been presented in some quarters in a manner that was neither intended nor implied.
For the avoidance of doubt, the purpose of the newsletter is to:
- facilitate clarity in the interpretation of the tax laws,
- enhance effective and efficient tax administration,
- reduce or eliminate unintended consequences or disputes, and
- promote confidence in the tax system by encouraging timely clarification and refinement of the tax laws.
In our view, Nigeria’s tax reforms, which have been codified in the new tax laws are transformational and with proper implementation, will move Nigeria in the right direction. As with any piece of complex legislation, there will always be areas for improvement, and our newsletter merely seeks to highlight some of those areas. Areas for improvement to legislation are not unique to Nigeria and such improvements are usually made post‑enactment as part of the law‑improvement process.
