Executives of the global network of professional services firms providing audit, tax and advisory services, KPMG yesterday met with chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, to address the disagreement over the new tax laws.

In a statement yesterday, NRS said Adedeji hosted a courtesy visit from the delegation of the tax advisory firm, where KPMG executives commended the NRS chairman for his leadership and timely implementation of the new tax, noting that “their initial apprehensions have been significantly allayed”.

They affirmed that the reforms are both necessary and timely, and pledged continued professional engagement in support of effective tax administration and national economic growth.

It was gathered that KPMG executives came to seek clarity on specific provisions of the laws. During the visit, the KPMG team clarified that their earlier opinion on the tax laws had been misconstrued and expressed regret over the misunderstanding.

“They sought further clarity on the provisions of the laws and highlighted areas where recommendations could be made.” Additionally, the statement said the delegation commended NRS chairman for efficiently and promptly implementing the reforms.

In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives. However, the presidential fiscal policy and tax reforms committee said a significant proportion of the issues described as “errors,” “gaps,” or “omissions” are KPMG’s own errors and invalid conclusions.