Forsake Don

A quick reality check. This is KPMG Not Twitter analysts, Not activists. KPMG is saying that Nigeria’s new tax laws contain “errors, inconsistencies, gaps, omissions and lacunae” and need urgent review. Key issues they flagged: • Sections that define who can be taxed BUT forget to clearly include or exclude communities • Rules that could double tax foreign profits at 30% • FX expense deductions tied to CBN rates that ignore market reality • Withholding tax rules that discourage foreign business • Capital loss provisions that are unclear • Rent relief so low it’s economically meaningless • Multiple schedules and sections that contradict each other Let this sink in: A global Big 4 firm is warning that parts of the law are ambiguous, contradictory, and commercially risky after implementation. So when people say: “Don’t worry, it’s all clear” or “It only affects big companies” Ask them this: If professionals who helped design tax systems worldwide are asking for urgent fixes… what chance does the average Nigerian have without preparation? This is no longer about panic. It’s about documentation, structure, and survival under a law even experts say needs correction. Ignore that at your own risk. Or come to the comment and start foaming at the mouth as usual.