(Feeling the Pulse and the Pinch by Taxation)
I consider it a special privilege to be invited to chair the session on the 5th February 2026 for the 20th Western Zonal Accountants’ Conference Publicity Committee.
When Mr Olayemi Cardoso was appointed as the Governor of the Central Bank of Nigeria at a time when the economy was on the brink of collapsing, he lamented on CNN, “Mine is the worst job in the world.”
Considering the unrelenting controversy over the Income Tax Act, which our guest speaker launched on 1st January of this year, Mr Cardoso has competition. None of us in this audience should envy him as he goes about accomplishing the formidable task of reforming our broken taxation system.
We all live in awe of the taxman.
Here are some quotations from the Bible:
Matthew 22:15-21
Then the Pharisees went and took counsel on how they might entangle him in his talk.
And they sent out unto him their disciples with the Herodians, saying, ‘Master, we know that thou art true and teachest the way of God in truth, neither carest thou for any man, for thou regardest not the person of men.’
Tell us, therefore, what thinkest thou? Is it lawful to give tribute unto Caesar, or not?
But Jesus perceived their wickedness and said, ‘Why tempt ye me, you hypocrites?’
Show me the tribute money. And they brought unto him a penny.
And he said unto them. Whose are these images and superscriptions?
They say unto him. Caesar’s, then said he unto them. Render therefore unto Caesar the things which are Caesar’s, and unto God the things that are God’s.”
Romans 13:1-7
(Paying what is owed and Jesus’ statement to “render to Caesar the things that are Caesar’s. Taxes covered both temples.
“ None of us in this audience should envy him as he goes about accomplishing the formidable task of reforming our broken taxation system.”
Paying taxes (Matthew 17:24-27 and 22:15-22)
Matthew records two separate instances depicting Jesus’ view on paying these taxes. The first incident is recorded in Matthew 17:24-27.
From the Quran
“The Quran does not explicitly use the modern term ‘tax’, but it introduces several financial instruments that function as state revenue, obligation, or wealth redistribution. The primary financial obligation mentioned in the Quran is Zakat, with other levies – such as Jizya (protection tax) and Khums (one-fifth share) – stipulated for specific contexts.”
Islam & taxation: One-page study sheet
Core concept
Islam does not endorse arbitrary taxation. It establishes defined financial obligations tied to justice, welfare, and accountability. Wealth is a trust (aminah), not absolute ownership.
Qur’anic foundations
Zakat (Mandatory Wealth Levy)
Qur’an 9:60 – Zakat is for the poor, needy, collectors, debtors, public causes, and travellers.
Qur’an 9:103 – State authority to collect zakat for purification and welfare.
Agricultural Levy (‘Ushr)
Qur’an 6:141 – Give its due on harvest day (10% rain-fed, 5% irrigated).
Jizyah (Civic Tax on Non-Muslims)
Qur’an 9:29 – Paid instead of zakat, in exchange for protection and civic order.
Prophetic Guidance (Hadith)
• Islam is built upon five pillars, including zakat (Bukhari & Muslim).
• Collector of unjust taxes (maks) will not enter Paradise (Ab■ D■w■d).
• Abu ■ Bakr (RA): Refusal of zakat is rebellion (Bukhari).
• Warning against oppressing non-Muslim taxpayers (Ab■ D■w■d).
Principles of Islamic Taxation
• No taxation without a Shar■‘ah basis
• Ability-based and proportionate
• Purpose-restricted public funds
• Transparency and accountability
• Oppression invalidates legitimacy
Summary
Islamic taxation aims at justice maximisation, not revenue maximisation.”
From William Shakespeare: “References to taxes in Shakespeare’s works often reflect the political instability and financial pressures of the Elizabethan era, frequently depicting taxation as burdensome, unfair, or a sign of tyranny. Money and accounting terms are pervasive throughout his plays, but specific references to taxation appear in his histories and comedies as methods of raising money for war or royalty.”
Sir Ronald Leach, former Senior Partner of KPMG UK, had great stories to tell about his encounters with the taxman. At the annual dinner, he would regale us with hilarious accounts of the firm’s back-and-forth duel with Her Majesty’s Revenue and Customs over the audited accounts of our clients.
Following in his footsteps, Sir Colin Sharman (1997 to 1999) had an even more robust repertoire of anecdotes with the taxman, always the fall guy or demon.
Perhaps I should share with you what the late editor of “Private Eye” magazine, Peter Cook, published with great relish.
Graham Marshall was a vastly wealthy businessman. However, he had a great aversion to paying tax. For years, he managed to dodge the taxman, but eventually the taxman caught up with him. Unfortunately, his business empire had gone bust. His property empire collapsed, but the taxman would not let go. A series of demand letters for tax and threats of sending him to jail for failure to pay both back and current taxes. Unfortunately, he developed a terminal ailment.
Being an address delivered at HighPoint Event Centre, CBD, Alausa, Ikeja, Lagos.
