Executives from the professional services firm KPMG met with Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), on Monday to address recent concerns regarding the country's newly implemented tax legislation.
This meeting followed KPMG's publication of a newsletter on January 9, which asserted the new laws contained "errors, inconsistencies, gaps, omissions, and lacunae" requiring urgent review. The NRS responded with a statement noting that the visiting delegation commended Adedeji's leadership, acknowledged the necessity of the reforms, and expressed that their "initial apprehensions have been significantly allayed."
According to sources within the NRS, the KPMG team clarified that their earlier critical opinion "had been misconstrued" and expressed regret over the misunderstanding. The purpose of the visit was reportedly to seek further clarity on specific provisions of the laws and to highlight areas for potential recommendations, pledging continued professional engagement to support the reforms.
The presidential fiscal policy and tax reforms committee had previously countered KPMG's critique, stating on January 10 that a significant portion of the issues raised were based on the firm's own errors, invalid conclusions, or a misunderstanding of the legislation.
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