The Digest:
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reforms, has detailed a new intelligence-driven system that will aggregate data from bank accounts, travel, and utilities to identify tax evasion.
Key Points:
- The system will aggregate data from bank accounts, travel history, and utility bills.
- Oyedele stated the focus is on large-scale evasion, not small discrepancies.
- Authorities will debit bank accounts directly for unpaid taxes under the new law.
- The framework aims to validate financial footprints against tax declarations.
- Oyedele described this as a shift from "using hammers" to smarter enforcement.
- The new tax law is scheduled to take effect next year.
- Public reaction online reflects significant concern and confusion over the policy.
Sources: The MicOn Podcast
