Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has cleared the air on how Nigeria’s new tax reform laws affect citizens living abroad, allaying concerns about tax filing, remittances and residency rules.
In a detailed Q&A issued to address questions from Nigerians in the diaspora, Oyedele explained that citizens living overseas are not required to obtain a Tax Identification Number (TIN) or file annual tax returns in Nigeria unless they earn income from sources within the country.
“A TIN is not required, and there is no requirement to file tax returns unless you earn employment or business income from Nigeria,” he clarified.
According to him, non-residents without Nigerian-source income are completely exempt from such obligations, and the process has been simplified for those who do need to comply.
“A TIN is also not required to open or maintain a bank account unless the account is for business purposes or income receipts,” he added. Oyedele emphasised that Nigerians abroad will not face double taxation or be taxed on funds they send home.
