Top executives from global professional services firm, KPMG Nigeria, met with Zacch Adedeji, the Chairman of the Nigeria Revenue Service (NRS), in Abuja on Monday, to address concerns arising from critiques of the country’s newly implemented tax legislation.
The meeting follows a widely circulated analysis by KPMG highlighting what the firm described as “errors, inconsistencies, gaps, omissions and lacunae” in the recently enacted tax framework, especially the Nigeria Tax Act (NTA) and accompanying Acts that took effect on January 1, 2026.
According to the NRS statement, the KPMG delegation used the engagement to seek clarity on specific provisions of the laws and discuss areas where professional guidance may enhance implementation and compliance. The NRS said the firm’s initial “apprehensions have been significantly allayed”, noting that KPMG executives commended the chairman for his leadership and the timely roll-out of the reforms.
In its earlier newsletter, KPMG had flagged several contentious provisions in the NTA, including ambiguity in how capital gains are taxed without inflation adjustments, unclear treatment of controlled foreign companies and foreign dividends, foreign exchange deduction rules tied to official rates, and deduction limits where VAT isn’t charged.
While some stakeholders expressed concern that these gaps could increase compliance costs, spark disputes, or deter investment, the NRS said ongoing professional engagement will help promote effective tax administration. Both parties reportedly agreed on the need for continued dialogue, technical review and industry feedback to support successful implementation.
The meeting also comes amid responses from government bodies pushing back on some of KPMG’s critiques, emphasising that perceived gaps often reflect policy intent or deliberate legislative design, and that further administrative guidance may resolve uncertainties.
As Nigeria navigates what is seen as one of the most significant overhauls of its tax regime in decades, the outcome of such engagements is expected to shape private-sector confidence, compliance behaviour and foreign investor sentiment in 2026 and beyond.
