KPMG, Revenue Service meet to resolve issues over tax reforms [+ Photos]

KPMG representatives met with Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), on Monday after accusations and counter-accusations over the newly enacted tax laws.

In a statement released on Monday, the NRS said Adedeji hosted a courtesy visit from a delegation of the tax advisory firm.

Recall that there had been back and forth between both authorities over the perceived shortcomings of the tax reforms – Nigeria Tax Act.

KPMG said it did a review of the tax laws, and declared it fraught with gaps, errors and contradictions.

The federal government responded with an explanation, noting that KPMG does not understand the laws.

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However, at the Monday meeting, NRS said, the KPMG executives commended the chairman for his leadership and the timely implementation of the new tax laws, noting that “their initial apprehensions have been significantly allayed”.

The statement read: “The Executive Chairman of the Nigeria Revenue Service (NRS) Dr. Zacch Adedeji, today received a delegation of top management from KPMG on a courtesy visit.

“The KPMG executives commended the Executive Chairman for his leadership and the timely implementation of the new tax laws.

“Their initial apprehensions have been significantly allayed.

“They affirmed that the reforms are both necessary and timely, and pledged continued professional engagement in support of effective tax administration and national economic growth.”