Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, says Nigeria has partnered with over 100 countries to track the income of remote and online workers as part of efforts to expand tax compliance.
Speaking at a webinar organised by the National Orientation Agency titled “Simplifying Nigeria’s Tax System,” Oyedele said the collaboration enables Nigeria to gather financial intelligence on citizens earning abroad or from digital platforms.
He explained that every Nigerian who works remotely, regardless of where their employer or client is based, must declare their income independently. According to him, the new law mandates all individuals to report foreign or online earnings — whether from global firms like Google or offshore companies — to avoid tax penalties.
Oyedele disclosed that Nigeria now receives regular financial data through the Common Reporting Standards (CRS) framework, which involves over 100 countries sharing banking and property information. “We see the money coming into your bank accounts, and if you fail to declare it, the system already has the intelligence,” he said.
He noted that the government had also engaged major tech firms to ensure fair taxation between digital platforms and local businesses, particularly around Value Added Tax (VAT) collection. The result, he said, has been billions of naira in new tax revenue without resorting to confrontation.
Addressing inconsistencies in the recently signed Nigeria Tax Administration Act, Oyedele admitted there were errors in turnover thresholds — N50 million in one section and N100 million in another — caused during the gazetting process. He said the correct minimum exemption threshold remains N100 million and that the committee will include the correction in its 2026 amendment list.
He further clarified that the new Capital Gains Tax (CGT) reforms will not apply retroactively, assuring that only profits earned after January 1, 2026, will be taxed under the new framework.
