Risk Association Advocates Tax Laws Compliance

The  Association of Enterprise Risk Management Professionals (AERMP) has urged Nigerians to work together to ensure the success of the new tax laws, which its implementation began on Thursday, Jan. 1.

The director general of AERMP, Dr Olayinka Odutola, told the News Agency of Nigeria (NAN) on Thursday that the laws were designed for the benefit of all citizens and required collective support to achieve their objectives.

“The law is for the benefit of everybody. All hands must be on deck to make it work,” Odutola said.

He noted that developed economies thrive largely on citizens’ compliance with tax laws, stressing that Nigeria must adopt a similar culture to drive sustainable growth.

Odutola said opposition to the new tax laws was being driven mainly by members of the elite and political class who fear being captured under an expanded tax net.

He added that only about 10 million Nigerians currently pay taxes out of an estimated population of 200 million.

“We cannot continue like this. Everybody should embrace the tax laws, and compliance is important,” he said.

He cautioned against expecting perfection at the early stage of implementation, urging Nigerians to support the policy and contribute to its success.

“We should not be looking at perfection. This tax policy is something we should encourage.

“Everybody has a role to play one way or the other in the implementation of this tax law,” he said.

Odutola, a chartered risk expert, said some regions had grown accustomed to not paying taxes, a practice he described as unhealthy for balanced national development.

The accountant noted that the association would intensify advocacy to educate Nigerians on the importance of civic responsibility through voluntary tax compliance.

Commenting on controversies over alleged discrepancies between the gazetted version of the law and that passed by the National Assembly, Odutola said the issue was being politicised and exaggerated.

According to him, stakeholders can address grey areas after implementation rather than attempt to halt the law.

He said the reforms had removed the tax burden from the poor, explaining that this would promote economic prosperity while helping to reduce insecurity, crime and criminality.

Odutola appealed to the media to support public awareness, saying they had a responsibility to promote the tax policy in the interest of national development.

“We need to move Nigeria forward aggressively,” he said.