Taxation in Nigeria: Compliance, Concerns, and Hope

_{Image was taken and edited on canva library}

Tax is an important part of the development of a nation, and that's why citizens are always advised to pay their tax so the funds can be used for the funding of different projects that'll bring about development and building of vital infrastructure that'll bring about a better life to the citizens. Despite how important taxes are, we still see many citizens who complain about them. Well, regardless of if it's agreed on or not, we've no reason but to pay it, and that's why the new government made a statement that we must all start paying tax. I'm not really freaked because I was already paying tax prior to this year.

When it comes to tax, it's worth noting that I actually don't know what the percentage of the new tax law is at this very moment, but I'm not really concerned about it, because based on what I've heard, it means I'll definitely pay less than I've paid in the past. Because according to the new tax law, I won't be charged to pay tax until after the first eight hundred thousand naira of my income, meaning it's the other income after that that'll be taxed, and the highest I think would be deducted would be 10%, although that's higher than the current 8.84% I'm paying to the Lagos State government, where I work.

As regarding the aspect of tax returns, to be honest, I'm not an expert in this aspect. Since I'm an employee of the state, I usually don't have any reason to submit a document of my income, expenses, and the like for vetting so it can be determined if I still need to pay for tax or if I've paid more than enough. Being an employee of the state, they're responsible for paying my salary and usually automatically deduct my tax even before my wages are paid, and I only just see what was deducted on my payslip. Although it seems like I'm not pleased, it's an important part of my responsibility as a citizen, and I know Lagos State is trying with development compared to other states in my country.

So that's about it on my knowledge about tax and tax returns in my country. Since the new tax law is still new and not yet in effect until the end of this month, it's still very much new, so I can't really say much, but I hope the government will use the funds gotten from this tax for the betterment of our beloved country.

All photos are mine, except stated otherwise.