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Tax law rollout: Nigerians should exercise caution – Budget Office

The Budget Office of the Federation has advised Nigerians to be careful as the new tax laws begin to take effect across the country. The office said while the reforms are meant to improve revenue and strengthen the economy, people and businesses should take time to understand how the changes affect them before making financial decisions.

Officials explained that rushing into compliance without proper information could lead to mistakes, penalties, or unnecessary payments. They encouraged taxpayers to seek guidance from tax professionals and official government channels to avoid confusion, especially during the early stage of the rollout.

The Budget Office also stressed that the government is still working with relevant agencies to ensure smooth implementation. It said feedback from citizens and businesses will help correct problems and improve the system so that the reforms do not create hardship or unfair burdens.

In conclusion, the office urged Nigerians to stay informed, ask questions, and avoid panic. It assured the public that the aim of the tax reform is to create a fairer system that supports development while protecting vulnerable groups in society.

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