By Admin
Following a public Hearing on the proposed tax reforms bills sent to the national assembly last year by president Bola Ahmed Tinubu, stakeholders in the submission at the public Hearing, threw their support to the bills.
First to make submission , was the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun who said the proposed laws are not aimed at taxing poverty but prosperity .
“The tax reform bills, as repeatedly explained at different fora since their introduction last year, are for modernization of our archaic tax laws towards effecting efficiency, equity and economic growth” he said .
In his own remark, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL , Mele Kyari , said the entire oil and gas industry was well disposed to the reform.
“The proposed tax reform bills to us in NNPCL, are very necessary enhancement of growth of the economy through more efficient and effective tax collection nechanism.
“As the largest tax payer in Nigeria, NNPCL has stidied the reform bills, and found the proposals to be reasonable and necessary”, he said.
Aligning with others submission during thhis presentation, the Chaorman of Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC), Mohammed Shehu gave hindered percent to the tax reforms bills
“RMAFC is in support of the proposed tax reform but wants adjustments in the area of Value Added Tax ( VAT) distribution to subnational” he added
“We hope that the proposed reform, will address the issue of endless revenue remittance reconciliation with NNPCL and others”
The Chairman of Fiscal Responsibility Commission , Victor Muruako also gave maximum support to the proposed reform bills by declaring that they are intadem with the spirit and letters of the Fiscal Responsibility Act 2007.
In their separate presentations, the convener of Arewa Think Thank , Muhammad Alhaji Yakubu and representative of President of Supteme Council for Sharia in Nigeria, Professor Mohammed Bello Dogarawa, debunked the insinuation that the North was against the reform bills .
Specifically, the Convener of Arewa Think Tank said ” It is not true that the North is against the tax reform bills . We have seen the benefits and sensitized our people in the North on them”
Declaring the public hearing open , the President of the Senate said Godswill Akpabio said the challenge before us transcends the simple act of passing new laws; it is about constructing a tax system that inspires confidence, promotes development, and fuels national growth.
He said the Senate cannot afford to be fragmented in an approach to revenue generation but must come together, alongside the private sector and civil society organisations and create a tax system that truly works for the betterment of the country
The Chairman Senate committee on finance,Sani Musa in his contribution told the gathering that president Bola Ahmed had earlier discussed with him that the national Assembly should make laws that that would have positive impact on the lives of Nigerians
The tax reform bills are
(i) The Nigeria Tax Bill 2024 , (ii) Nigerian Tax Administration Bill 2024, is ( iii) Nigeria Revenue Service Establishment Bill 2024 and ( iv) Joint Revenue Board Bill 2024
Other Critical stakeholders like the Executive Chairman of Federal Inland Revenue Service, Mr Zacch Adedeji, the Governor of the Centeal Bank of Nigeria, Yemi Cardoso, the Comptroller – General of Nigeria Customs Service and Nigeria Immigration Service, will tomorrow (Tuesday) contribute to the debate
