Yemisi

The Federal Inland Revenue Service (FIRS) has strongly criticized the Federal Capital Territory Administration (FCTA) for shutting down one of its offices in Abuja. The agency described the move as both “malicious” and “unprofessional.” In a statement posted on X (formerly Twitter), Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, accused the FCTA of unfairly targeting the agency. “It is highly unprofessional of the Wike-led FCTA to shut down our office and disrupt our staff from carrying out their duties—especially during a pivotal week as we prepare to sign the Tax Reform Bills. FCTA, you’ve made a serious error. FIRS owes you nothing,” Atoyebi stated. She went further to accuse the FCTA of using FIRS as a scapegoat, saying: “If you’re looking for a fall guy, look elsewhere. We will not be your scapegoat, especially when you’re fully aware that your media-spread falsehoods and illegal actions jeopardize our operations.” Atoyebi emphasized that FIRS has no outstanding rent owed to the FCTA, claiming that all dues had been cleared through 2023. “We have the evidence,” she stressed in response to allegations of indebtedness. The timing of the incident is particularly concerning, Atoyebi noted, as it coincides with a critical moment for Nigeria’s tax system, with major reform legislation nearing finalization. She warned that such disruptions could erode public trust and delay the implementation of essential fiscal policies. Analysts have also expressed concern that rising tensions between federal institutions could impair service delivery and cause broader instability. Meanwhile, the National Assembly is moving forward with the harmonization of the Tax Reform Bills. The harmonized version may be passed as early as Tuesday, following a successful reconciliation of contentious sections. James Faleke, Chairman of the House Committee on Finance and head of the harmonization committee, confirmed the development on Sunday via X. He wrote: “The Conference Committee set up by the House and Senate on the Tax Reform Bills has completed its work. The joint team carefully reviewed all sections, resolved grey areas in the four Bills, and addressed all contentious clauses.” It was reported that the FCTA sealed the FIRS office in Abuja due to alleged non-payment of ground rent. Other properties affected by similar actions included an Access Bank branch and a Total filling station in Zone 6, Wuse, Abuja, reportedly over unpaid rent spanning 34 years.

The Federation Account Allocation Committee (FAAC) has released its Value Added Tax (VAT) report for the first quarter of 2025, revealing that Nigeria’s 36 states collectively generated ₦1.5 trillion in VAT revenue. Once again, Lagos State emerged as the top contributor by a wide margin. According to data obtained by Investors King, Lagos alone accounted for ₦819.62 billion—over 54% of the total VAT collected nationwide during Q1. The state’s dominant share reaffirms its status as Nigeria’s economic powerhouse, far outpacing all other states in tax remittances. Rivers State ranked a distant second with ₦278.23 billion, while Oyo State followed in third place, generating ₦79.78 billion during the same period. Top 10 VAT-Contributing States in Q1 2025: These figures highlight the stark disparities in economic activity and taxable transactions among the states, with southern and oil-producing states dominating the upper ranks. Regional Patterns and Observations In general, northern states reported lower VAT returns. Jigawa (₦11.22 billion), Sokoto (₦10.88 billion), and Anambra (₦10.73 billion) were the top contributors from that region. On the opposite end, Taraba (₦2.33 billion), Imo (₦2.34 billion), and Abia (₦2.92 billion) recorded the lowest collections, indicating limited consumption or a narrower tax base. Mid-tier states such as Kaduna (₦8.12 billion), Kogi (₦7.33 billion), and Ogun (₦7.20 billion) posted moderate figures, reflecting their industrial and commercial output. Economic Implications The Q1 data underscores the concentration of economic activity—and consequently, VAT generation—in a handful of states. Lagos and Rivers alone were responsible for over ₦1 trillion, nearly two-thirds of the national total. Fiscal experts warn that this level of revenue centralization raises concerns about equity under Nigeria’s fiscal federalism framework, where VAT collections are pooled and shared among all states regardless of contribution. While the Federal Inland Revenue Service (FIRS) continues its efforts to expand the VAT base, analysts have urged state governments to invest in formalizing their economies, improving tax collection systems, and enhancing compliance to boost their internally generated revenue (IGR). Full State-by-State VAT Breakdown for Q1 2025 (₦ Billion): State VAT Generated Lagos 819.62 Rivers 278.23 Oyo 79.78 Bayelsa 27.26 Kano 22.97 Edo 20.73 Delta 20.04 Akwa Ibom 16.08 Kwara 14.43 Benue 12.36 Jigawa 11.22 Sokoto 10.88 Anambra 10.73 Ekiti 10.17 Adamawa 9.12 Kaduna 8.12 Borno 7.87 Ebonyi 7.43 Kogi 7.33 Ogun 7.20 Ondo 7.14 Nasarawa 7.05 Bauchi 6.30 Niger 5.97 Katsina 5.96 Osun 5.95 Yobe 5.81 Plateau 5.55 Kebbi 5.13 Enugu 4.96 Gombe 4.61 Zamfara 3.77 Abia 2.92 Cross River 2.65 Imo 2.34 Taraba 2.33 Looking Ahead As Nigeria pursues ongoing tax reforms and aims to reduce reliance on oil revenue, state governments face increasing pressure to broaden their tax bases. Digitizing revenue systems and improving tax compliance will be essential for achieving sustainable growth in IGR. In this context, VAT performance continues to serve as a critical barometer of sub-national economic health and administrative capacity. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

The Federal Inland Revenue Service (FIRS) has made a major move to improve tax compliance in Nigeria by launching a stakeholder engagement forum focused on its e-invoicing initiative. The forum, held in Lagos, brought together key players from the manufacturing and oil and gas industries to deliberate on the rollout and practical application of the new e-invoicing system. According to Sadiq Arogundade, the Lead Consultant for FIRS, the e-invoicing platform aims to streamline tax compliance by automating invoicing processes and simplifying bookkeeping efforts. “We’ve developed an electronic invoicing system to help taxpayers and businesses manage their invoicing more efficiently,” Arogundade said. “However, it’s critical that we incorporate all use cases, feedback, and concerns from stakeholders during the system’s development.” He explained that the main goal of engaging stakeholders is to collect input from businesses to fine-tune the platform. Highlighting its advantages, Arogundade noted, “Automating workflows significantly reduces the effort required for accurate bookkeeping. We want to integrate into that process so we can extract the tax elements directly from invoices and handle the tax calculations for businesses.” This approach, he added, would ease administrative burdens and enhance the accuracy and timeliness of tax compliance. Mike Adoga, Acting Director of Tax Automation at FIRS, emphasized the system’s potential to provide real-time visibility into transactions across sectors, thereby strengthening tax compliance. “This is about enabling the electronic, real-time exchange of invoices between businesses and their customers using FIRS technology,” Adoga said. He also highlighted key benefits such as increased transparency, improved accuracy, and enhanced efficiency. The e-invoicing platform is designed to automatically capture taxes such as Value Added Tax (VAT) at the 7.5% rate, as well as withholding tax, company income tax, and personal income tax. Adoga explained that this system would help close revenue gaps, reinforce compliance, and bring Nigeria’s tax processes in line with international standards. “Withholding tax functions as an advance payment towards tax liabilities,” he noted, adding that relevant transaction data would also flow through the e-invoicing ecosystem. While acknowledging some ongoing challenges, Adoga underscored the importance of continued engagement to dispel myths and improve understanding of e-invoicing. “Many have heard of electronic invoicing, but misconceptions persist,” he said. “These sessions are key to bridging that gap.” He encouraged businesses to adopt the system, highlighting its potential to foster better compliance and minimize tax-related disputes. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

The Chairman of the Nigeria Economic Summit Group (NESG), Mr. Niyi Yusuf, and the CEO of Emerging Africa Capital, Mrs. Toyin Sanni, have urged the federal government to curb its borrowing and enhance tax collection efforts. They made these remarks during the Vanguard Economic Discourse held yesterday, where key stakeholders gathered to deliberate on the theme, “Taming Inflation and Stimulating Growth.” Both Yusuf and Sanni acknowledged that inflation has become a serious challenge and proposed a range of policy measures including the elimination of fuel subsidies, stronger coordination between fiscal and monetary authorities, and reduced government expenditure to drive economic growth. Mr. Yusuf emphasized the need for the government to boost efficiency and transparency by reassessing untargeted subsidies, tax waivers, and incentives. He advocated for increased non-oil revenue through the expansion of the tax base and improved tax collection mechanisms. He further recommended a comprehensive fiscal management approach to diversify funding sources, including through public-private partnerships (PPP), innovative financing structures, and targeted intervention funds. “To rein in inflation,” he said, “the federal government must reduce its reliance on Central Bank financing. Additionally, the CBN should adopt a single, market-reflective exchange rate, and there must be alignment between fiscal and monetary policies to stabilize the economy.” Yusuf also called on the government to boost domestic trade and promote value addition by lifting forex and trade restrictions. He urged the CBN to establish a clear monetary policy framework that expands access to finance and mitigates risks stemming from the monetisation of Ways and Means advances. On her part, Mrs. Sanni cautioned that inflation may continue to rise in the short to medium term due to factors such as worsening fuel shortages, the lingering effects of flooding on agricultural output, and persistent foreign exchange constraints. She argued that cutting government subsidies and other forms of public support could reduce excess liquidity and inflationary pressure. Moreover, by increasing taxes, the government can moderate aggregate demand and further support inflation control efforts. Sanni also highlighted the importance of infrastructure development, noting that improved infrastructure could enhance productivity and boost economic growth while reducing inflation. She stressed the need for greater transparency in resource allocation and public financial management to improve economic efficiency. Furthermore, she urged the government to tackle corruption, which would not only enhance economic efficiency but also attract foreign investment. Sanni concluded by advocating for export diversification, especially in agriculture and non-oil sectors, as a means to lessen Nigeria’s reliance on oil and buffer the economy against global oil price volatility. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

The National Assembly is poised to pass the long-anticipated harmonised tax reform bills, with a final decision expected by Tuesday, following the resolution of all previously disputed provisions. This legislative breakthrough represents a major advancement in the Federal Government’s drive to modernise Nigeria’s tax regime and align it with global standards. Hon. James Faleke, Chairman of the House Committee on Finance, announced the development on Sunday via his official X (formerly Twitter) handle. He confirmed that the joint Conference Committee—comprising members from both the Senate and the House of Representatives—had completed its review after thorough deliberations. “The Conference Committee on the Tax Reform Bills has successfully concluded its assignment,” Faleke stated. “Every clause of the four bills was carefully examined, and all grey areas were addressed and resolved.” Faleke, who led the House delegation during the harmonisation process, praised the dedication of committee members, noting that discussions often extended late into the night. The intensive review sessions reportedly ran through Thursday night, continued all day Friday, and concluded in the early hours of Saturday. With the harmonisation process complete, the tax bills are now ready for final presentation before both chambers of the National Assembly and subsequent transmission to President Bola Ahmed Tinubu for assent. Faleke also expressed gratitude to the Senate delegation, particularly commending Senator Sani Musa, Chairman of the Senate Committee on Finance, for his leadership. “I want to especially appreciate Senator Sani Musa and the Senate Conference Committee for their commitment. I also sincerely thank my colleagues on the House Committee, whom I was privileged to lead, for their dedication to the Nigerian people,” he said. The tax reform initiative, driven by the Tinubu administration, seeks to overhaul Nigeria’s outdated tax system. The reforms aim to enhance transparency, expand the tax base, increase government revenue, and support key national development goals. Senate President Godswill Akpabio previously praised lawmakers for their efforts in advancing tax reforms that will bring Nigeria closer to international best practices. “These executive bills are designed to transform and modernise Nigeria’s tax structure,” Akpabio said during a plenary session where a majority voice vote favored the bills. Senator Sani Musa, who led the ad hoc committee on the tax reform initiative, emphasized that the reforms are structured to improve revenue generation and fund essential national priorities. These include defence infrastructure, cybersecurity, educational funding through TETFund, and welfare for military personnel engaged in peacekeeping operations. The reform package also proposes the establishment of a tax ombudsman to resolve disputes and promote fairness in tax administration, along with a dedicated tax tribunal to streamline the resolution of tax-related grievances. Senator Musa noted that the reforms span various tax categories, including Value Added Tax (VAT), development levies, and inheritance tax—some of which were previously excluded but reintroduced during harmonisation. He expressed confidence in the positive impact of the reforms: “I am confident that Nigerians will see meaningful benefits from these changes. We also commend President Tinubu for ensuring a fair and open legislative process.” Once passed and signed into law, the harmonised tax bills are expected to lay the groundwork for a more equitable, transparent, and development-oriented tax system in Nigeria. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Mrs. Folorunso Alakija, the Group Managing Director of Rose of Sharon Group and Executive Vice Chairman of Famfa Oil, has expressed concern over the federal government’s proposed increase in Value Added Tax (VAT) from the current 5% to 7.5%. She voiced her concerns during an interview with THISDAY at the graduation ceremony of 67 students from the Folorunso Alakija Skills Acquisition Centre, located within the College of Technology, Yaba, Lagos. According to her, “Raising VAT would make it more challenging for entrepreneurs to achieve their desired level of profitability. “However, tax is essential for nation-building, as it represents a significant source of income for the government. No government can function effectively without tax revenue—provided that the funds are reinvested into critical sectors and are not misused.” Addressing the broader challenges entrepreneurs face in Nigeria, Alakija identified unreliable electricity as the most pressing issue. She stated, “In my opinion, the primary obstacle for Nigerian entrepreneurs is electricity, not funding. We’ve seen individuals, including women, start businesses with as little as N1,000 and grow them into multi-million-naira enterprises. This proves that while capital is important, electricity is vital. “There are very few businesses that don’t rely on power. We all need electricity. The federal government must prioritize solving this issue—whatever it takes. It’s critical for our economy. “When foreign investors consider where to invest, the availability of stable electricity is a major factor. The lack of it is a deterrent. The government must take urgent action.” Commenting on the impact of her skill acquisition centre, she emphasized the value of the opportunity given to the graduates. “This opportunity is a blessing from God,” she said. “Many people pray for such a chance but never receive it. These graduates are fortunate and must make the most of it by applying what they’ve learned. “This is their path to financial independence—to support themselves and their families. They must not take it lightly. Just because it was given to them easily doesn’t mean they should waste it.” For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Real estate stakeholders have expressed optimism that once the Tax Reform Bill is enacted, real estate transactions will be exempt from Value Added Tax (VAT). This assurance was further reinforced by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, who stated that the bill is designed to benefit low-income earners and help bridge the country’s housing deficit. According to Oyedele, the VAT exemption is expected to reduce the cost of building materials and overall housing expenses. He emphasized that the bill, contrary to some misconceptions, is structured to ease the financial burden on low-income households. He noted, “There will be no VAT on land transactions, real estate sales, and rent, which have previously been contentious issues.” Oyedele made these remarks during a Building and Construction Industry Forum co-hosted by the Council of Registered Builders of Nigeria (CORBON) and the Housing Development Advocacy Network (HDAN). Themed “Nigeria’s Tax Reforms and the Building and Construction Industry: Implications and Opportunities,” the event served as a platform to clarify the bill’s broader benefits. Oyedele expressed concern that the reform is being misinterpreted by some individuals. He also highlighted other provisions in the bill, including stamp duty exemptions for rents below ₦10 million per month and capital gains tax waivers on the sale of residential homes. Additionally, he said that producers of building materials, especially non-metallic products, will be eligible for priority sector incentives to boost local production. He assured stakeholders that land transactions, titling processes, and property tax harmonization will be improved under the reforms. “The Tax Reform Bill aims to make housing more affordable and ease the tax burden for renters,” Oyedele explained. “Ultimately, the reforms are designed to improve the quality of life, stimulate the construction sector, and enhance overall economic activity.” He urged Nigerians to seek accurate information about the reforms rather than relying on misleading headlines or social media narratives. Speaking at the event, the Minister of Housing and Urban Development, Ahmed Dangiwa—represented by Temitope Gbemi, Director of Public Buildings—affirmed that the bill offers significant relief to construction companies and contractors. He added that the ministry is aligning its housing policies with fiscal reforms, collaborating with tax authorities to ensure that real estate investments are governed by transparency, fairness, and investor protection. CORBON Chairman, Samson Opaluwah, pointed to limited access to finance and multiple taxation as key challenges impeding the council’s growth. He expressed hope that the bill would address these issues effectively. Meanwhile, HDAN Executive Director, Festus Adebayo, welcomed the VAT exemptions on land, real estate, and building materials. He called for additional incentives in the bill to attract developers and investors to build affordable housing for low-income earners. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

The Institute of Chartered Accountants of Nigeria (ICAN) has recently taken a significant step to reinforce the importance of strict adherence to ethical standards within the accounting profession. This was clearly emphasized during the inauguration of the Ako Jaya District Society, an event that marks a crucial milestone in bridging the gap between ICAN’s national body and its members across Nigeria. At the inauguration, Mrs. Florence Akinsola, the pioneer district chairman, passionately urged all members to continuously uphold the core values that define the institute: integrity, accountability, and excellence. These values are not just ideals but essential principles that guide the professional conduct of accountants in every sector.The president of ICAN further highlighted the indispensable role accountants play as gatekeepers of the nation’s economy. According to him, every organization that aims to thrive and sustain its operations must have competent accountants who can provide sound financial guidance. Accountants help ensure that organizations do not exhaust their resources prematurely and maintain financial sustainability over time. In addition to technical competence, ICAN stressed the need for accountants to be morally upright, emphasizing qualities such as honesty, independence, and objectivity. These ethical standards must be upheld even when faced with high stakes or pressure, ensuring that the profession maintains its credibility and trustworthiness.To maintain these standards, ICAN has established a disciplinary framework whereby any reported infractions by members are thoroughly investigated. Cases that show probable violations are referred to the accountant disciplinary tribunal, ensuring accountability and reinforcing the institute’s commitment to ethical conduct. Beyond professional ethics, ICAN is also actively engaging with communities through initiatives such as setting up libraries and educational programs aimed at nurturing young talent interested in accounting. These efforts are designed to expand the institute’s presence and influence, making accounting a more accessible and respected profession across Nigeria. For tax consulting firms, this renewed focus on ethics and professionalism by ICAN serves as a critical reminder of the vital role accountants play in safeguarding financial integrity. Upholding these ethical standards not only protects clients but also enhances the reputation and sustainability of consulting practices. As the financial landscape grows increasingly complex, tax consultants must align themselves with these principles to provide trustworthy, objective, and high-quality services that clients can rely on. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Change is a constant feature of national development, and reforms—whether in taxation, fiscal policy, monetary systems, banking, agriculture, healthcare, education, or information and communication technology—are essential components of progress. What remains crucial is our collective ability to evaluate these reforms with objectivity and optimism. This article, in that light, explores Nigeria’s tax reform system from the perspective of students and practitioners, shedding light on both the potential benefits and the challenges that inevitably accompany transformative change. Nigeria’s history of tax reform can be broadly divided into two phases: the pre-independence and post-independence eras. Prior to 1960, revenue collection was largely handled by local institutions on behalf of governing authorities. The colonial administration began formalising these processes through laws such as the Native Revenue Ordinance of 1917 and the Direct Taxation Ordinance of 1940. These early initiatives laid the foundation for a more organized taxation system. Following independence in 1960, Nigeria embarked on a series of tax reforms aimed at modernizing and strengthening the tax structure. The 1978 reform introduced withholding tax and restructured income tax, enhancing the reliability of revenue collection. In 1993, the Value Added Tax (VAT) replaced the outdated Sales Tax Act of 1986, marking a shift towards consumption-based taxation. The National Tax Policy introduced in 2012 focused on creating a unified tax administration, while the 2017 review aimed to encourage voluntary compliance, widen the tax base, and address revenue leakages. A significant advancement came with the 2020 Finance Act, which raised VAT from 5% to 7.5% and introduced incentives for small businesses. Most notably, the 2023 establishment of the Presidential Fiscal Policy and Tax Reform Committee marked a bold step toward overhauling the nation’s fiscal system. The committee focused on harmonizing multiple levies, improving tax collection efficiency, and developing a unified revenue framework. This led to the formulation of four pivotal bills: the Nigerian Tax Bill, Nigerian Tax Administration Bill, Nigerian Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill. At its core, tax reform involves the strategic restructuring of tax laws, collection methods, and administrative frameworks. The primary goals include enhancing administrative efficiency, broadening the revenue base without overburdening taxpayers, updating outdated regulations, simplifying compliance, promoting economic growth, and aligning with global best practices. Effective reform strategies include improving tax administration, making prudent adjustments to tax rates, enacting taxpayer-friendly laws, and expanding the tax net. For both students and professionals, tax reforms present numerous opportunities. Increased government revenue can enhance the operational capabilities and payroll structures of public institutions where many professionals are employed. Moreover, reforms create demand for skilled tax administrators and analysts, offering employment opportunities to students and professionals alike. A more transparent and efficient tax system also fosters investor confidence, driving foreign direct investment and stimulating economic growth that benefits the wider population. Reforms also promote academic and professional development. Students and researchers gain new areas for inquiry, while practitioners must continually update their skills to keep pace with evolving tax policies. The 2023 reform, for instance, included a provision mandating the Tertiary Education Trust Fund (TETFund) to allocate 30% of its revenue to the Nigerian Education Loan Fund (NELFUND). Established under the Student Loans Act signed on June 12, 2023, by President Bola Ahmed Tinubu, NELFUND is tasked with administering student loans in Nigeria and is a direct product of recent tax policy changes. Beyond individual benefits, tax reform contributes to broader national objectives such as fiscal stability, equitable wealth distribution, and sustainable economic development. However, these reforms are not without obstacles. One major concern is the potential increase in tax rates, which may reduce disposable income for individuals, including students and professionals. Resistance to change, driven by limited understanding or fear of complexity, is another challenge. A shortage of qualified personnel to implement reforms effectively, combined with low public awareness, can hinder the process. Without adequate training and communication, both students and practitioners may struggle to engage with the new tax landscape. Additionally, legal and administrative complexities may delay implementation or create confusion, thereby affecting compliance. Despite these challenges, the importance of tax reform cannot be overstated. For Nigerian students and professionals, it represents both a challenge and an opportunity—a call to become more informed, engaged, and forward-thinking. With proper education, increased awareness, and robust institutional support, the long-term advantages of tax reform can significantly outweigh the difficulties. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Let’s talk about taxes. Yes, those taxes. The ones that make your eyes glaze over when you hear words like “deductions,” “withholding,” or “audit.” But stay with me — because taxes might be more important to your life than you think, and they’re definitely not the villain we love to hate. What Are Taxes, Really? At their core, taxes are the price we pay to live in a functioning society. Roads? Paid by taxes. Schools? Taxes. Emergency services, trash pickup, clean water, even public parks — all of it, funded by our collective contributions. But we rarely feel that connection. All we usually see is money leaving our paycheck. Why Taxes Feel So Frustrating Most of us aren’t taught how taxes work. We enter adulthood and suddenly we’re expected to know how to file returns, understand brackets, and claim dependents — all without a manual. It’s overwhelming. And because we don’t always see the impact of where our money goes, we start to resent it. But Here’s a Thought: What If We Shifted the Narrative? Imagine treating taxes not as a punishment, but as a responsibility. Like voting, or helping a neighbor. What if, instead of dreading tax season, we approached it like an annual check-in with ourselves: What You Can Control You may not be able to control how much the government takes, but you can: Taxes Aren’t the Enemy — Misinformation Is You don’t have to love paying taxes. But understanding them is a power move. It means fewer surprises, better financial choices, and a little less stress come April. So next time tax season rolls around, don’t panic. Get curious. Ask questions. Maybe even hire help. Because the more you know, the more you can make the system work for you — instead of feeling like it’s always working against you. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.