Anambra State Internal Revenue Service Holds Maiden Tax Summit
Poised to creating awareness on the new tax law passed by the National Assembly and scheduled to take effect in 2026, the Anambra State Internal Revenue Service (AIRS) has held a maiden tax summit to help Ndi Anambra, and by extension Nigerians, understand the provisions of the law, how to avoid falling foul of it, and how to comply judiciously with its requirements.
In his speech, the AIRS Executive Chairman, Dr. Greg Ezeilo, said the summit was aimed at demystifying the apprehension people have towards the new tax law, encouraging compliance rather than offending, noting that the provisions are punitive, even as the law takes into cognizance the concerns of Nigerians by exempting low-income earners and enabling small businesses within certain thresholds to grow without paying tax.
In her lecture, the Senior Special Assistant to the Governor of Anambra State on Internal Revenue Service (Technical), Hon. Kate Oyeka, whose presentation focused on the informal sector and the new tax law, emphasized that it is no longer business as usual for businesses that hide under the informal sector and make huge profits without paying tax, as technology would be deployed to ensure compliance with the law.
In his lecture on the provisions of the new tax law, a tax expert, Mr. Chijioke Uwaegbute, explained that individuals and businesses earning between eight hundred thousand naira and one point three million naira after all deductibles are exempt from tax, while companies earning between fifty million naira and one hundred million naira after deductibles are also exempt, advising that it has become imperative for business owners and individuals alike to engage the services of tax experts, as the narrative has changed.
The Managing Director of the Anambra State Signage and Advertisement Agency (ANSAA), Mr. Odili Ujubuonu, noted that people are more willing to pay their taxes when they are better informed and can see the impact of their tax payments, adding that the new tax law is in the interest of all, especially as low-income earners are exempted and pay less.
The event also featured a panel session where broader issues surrounding the tax law were discussed, questions were asked and answered, and awards were presented.
More photos below.
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