Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured Nigerians abroad that diaspora remittances and overseas income will not be taxed under the country’s new fiscal reforms.
Many Nigerians abroad have expressed concern over how the country’s new tax reforms might affect remittances, dual citizenship, and overseas earnings. However, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, clarified that personal remittances and foreign-earned income remain tax-exempt.
“Genuine personal transfers such as family remittances, gifts, or community savings contributions are not treated as taxable income,” Oyedele said on Channels Television. He emphasized that only income earned or deemed income like wages, profits, or investments is taxable.
He further dismissed fears of double taxation, explaining that “income earned abroad and brought into Nigeria by a non-resident individual is now specifically exempted from tax.” Oyedele added that tax residency applies only to those spending more than 183 days in Nigeria annually.
He reassured Nigerians that remote workers, pensions, and overseas stipends would not be taxed, and that tax filing applies only to individuals with income sourced from Nigeria.