Survey: Taxpayers Support Reform Objectives, Cautious About Challenges, Economic Pressures

A recent joint survey by PwC Nigeria and the Lagos Chamber of Commerce and Industry revealed that taxpayers generally support the objectives of Nigeria’s tax reform, but are cautious about the challenges and economic pressures it poses. The report, titled "Six-month Review of Nigeria’s Tax Reforms," aimed to capture feedback on the implementation of the new tax regime.

Key findings include that 42.8% of respondents viewed digital platforms positively, indicating more efficient and accessible tax filing, while 38.8% believed their tax burden had not significantly reduced. Transparency in tax collection was seen as improved by 39.7% of respondents, who also noted clearer tax laws. However, 58.4% of respondents called for increased taxpayer education.

Corporate organizations showed a higher comprehension of the new tax regime, with 95.24% reporting high or moderate awareness, compared to 42.2% of individual taxpayers who believe the new Personal Income Tax rates have reduced their employees' tax burden. Despite progress, businesses still face compliance difficulties, particularly around multiple tax obligations and lack of integrated information systems.