Revenue Service, Enugu Commerce Chamber sensitise business communities on new tax policy

As the new tax policy takes effect on January 1st, 2025, the Enugu State Internal Revenue Service and The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) have begun the sensitisation of business owners on the new tax policies formulated by both the Enugu State and the Federal Government.

The sensitisation tagged “Interactive Forum on the New State and Federal Government Tax Regime” was organised by ECCIMA in Collaboration with the Enugu State Internal Revenue Service.

Emmanuel Nnamani Chairman Enugu State Internal Revenue Service (ESIRS), while speaking, described the gathering as unique and strategic targeted at educating business owners on things they need to know about the new tax policy, how it affects their business and action they needed to take.

According to him, people need to know that they were supposed to pay their taxes when making income that’s above the required threshold.

“So we gained a lot in this meeting, because they now heard it firsthand and asked their questions personally and received explanation that appeals to them.

“The government needs to know how much income you have made to help them know our GDP and areas or sectors that require support. So it is important that in 2026 that we get ourselves prepared,.

“However, in general terms, 2026 is not going to be different from the way we live our lives as nothing much is changing especially in informal sector,” he said.

He said that the poor would benefit more because the exemption threshold eliminates them from paying taxes as the exemption threshold of people who were making taxable income of N800,000 and income bracket around N1.3 million naira in a year would no longer pay taxes.

“So civil servants, from level 9, 10, 11
depending on their contribution to statutory authority, may not be able to pay tax to government because their income bracket will come lower than the threshold. This how the poor is going to benefit from the tax,” he explained.

Advising residents not to panic about the tax, Nnamani stressed that the higher of one’s income, the higher the tax the individual would pay, emphasisng the need for income earners to get tax Identification Numbers.

“Businesses should also file their assessment and comply with the tax directives,” Nnamani advised.

Rob Anwatu Chairman of the event and the ECCIMA Board of Trustees Chairman called on the participants to listen to tax experts to clear the confusion and doubt many people were having about the new tax policy.

Odeiga Jideonwu, President of ECCIMA,, said the gathering aimed to identify areas and incentives that would support the growth of businesses.