The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has insisted that the new tax laws will not involve automatic deductions from personal bank accounts.
According to Oyedele, it is based on self-declaration rather than direct debits.
He stated this while speaking during Channels Television’s end-of-year programme, 2025 In Retrospect: Charting a Pathway to 2026, aired on Tuesday.
Oyedele dismissed claims that the government would monitor or debit individual bank accounts, stressing that taxpayers would only be required to declare their income at the end of the tax year.
