The chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has faulted the concerns raised by KPMG about Nigeria’s new tax laws, saying the bulk of the issues described by the firm as errors and loopholes are its own errors and invalid conclusions.
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.
“We acknowledge that a few points raised by KPMG are useful, particularly where they relate to implementation risks and clerical or cross-referencing issues,” he stated.
“However, the majority of the publication reflected a misunderstanding of the policy intent, a mischaracterisation of deliberate policy choices, and, in several instances, repetitions and presentation of opinion and preferences as facts.”
Gaps/errors highlighted by KPMG
Earlier in its review, KPMG had noted that there are inherent errors, inconsistencies, gaps and omissions in the law, which came into force this month,
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