Lagos: Tax consultant Gabriel Oluwasola has declared that Nigeria’s new tax law offers “no hiding place” for evaders.
Speaking at the Hyper Master Class Conference and Gala Award Night organised by the Clean Ace Foundation at the Providence Hotel, Lagos, Oluwasola stressed that tighter enforcement measures will expose and penalise offenders, ensuring greater compliance across the system.
The conference with the theme – Making Audacious Moves in 2026 – was organised by Clean Ace Foundation in conjunction with Fabricare Professionals and Drycleaners Association.
“The new tax law does not benefit high-net-worth individuals as they will pay higher taxes and help run the country.
“The beautiful thing is that low-income earners have nothing to suffer.
“As per fiscalisation, a technologically-driven system we are now operating, there is no hidden place for anybody to evade tax,” he said.
Oluwasola, who is also a Managing Partner of FINGOAL Consulting, described the new tax law as good despite some issues.
“The fact remains that the tax law favours low-income earners because if you are a small company, you are exempt from all forms of taxes.
“I think that is one of the beautiful things for our economy to grow rapidly. If I operate a business and my annual turnover is below N100 million, I don’t have to worry about tax obligations.
“Whatever profit I make at the end of the year, I can roll it over in order to improve my efficiency and increase my income and also help the economy by employing more staff.
“That will stimulate economic growth. Individuals earning up to N800,000 are fully exempted,” he said.
Oluwasola said paying taxes is an obligation.
“We have to tell ourselves the truth: taxes are a civil obligation. We have to fulfil our own social contract before we can ask government questions.
“Not paying taxes fails to support the economy,” he said.
Speaking with newsmen, the Founder of CleanAce Foundation, Mr Eniibukun Adebayo, said the aim of the conference was to foster more inclusive conversations that would help businesses grow.
Adebayo said that the conference helped develop strategies to ensure businesses would grow and people could take bold decisions to take their businesses to the next level.
“This is why we had to look at the biggest topic in Nigeria today, which is tax; we had to bring a tax expert to guide the people,” he said.
Earlier, Lagos State Commissioner for Wealth Creation and Employment, Mr Bankole Ajigbotafe, said the dry-cleaning and laundry subsector occupied an important place in Lagos State’s wealth-creation and employment ecosystem.
