Thu, 22 Feb 2024

 

Tinubu receives update on tax reforms, wants speedy implementation
 
By: Abara Blessing Oluchi
Tue, 24 Oct 2023   ||   Nigeria,
 

President Bola Tinubu on Tuesday directed his Special Adviser on Policy Coordination, Hadiza Usman, to liaise with the Office of the Secretary to the Government of the Federation to synergise all recommendations of the Presidential Fiscal Policy and Tax Reforms Committee for speedy implementation across all Ministries, Departments and Agencies.

The President gave the directive when he received in audience the Chairman of the reforms committee, Mr Taiwo Oyedele, who presented him a 30-day report on what he called “quick wins” at the Aso Rock Villa, Abuja.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, revealed this to State House Correspondents shortly after the meeting, which would have happened in September but for the President’s foreign engagements in India and New York that month.

Negelale said, “President Bola Tinubu received in audience the Acting Chairman of the Federal Inland Revenue Service, Mr. Zack Adedeji, as well as the chairman of the tax policy review committee, Mr. Taiwo Oyedele where the committee presented to Mr. President a report on quick wins achieved by the tax policy review committee, in conjunction with directives given by Mr. President on the day that committee was inaugurated.

“After listening to a presentation by the committee chairman, the President directed the Special Adviser to the President on Policy Coordination, Hadiza Usman, to liaise with the Secretary to the Government of the Federation and the Chairman of the Tax Policy Review Committee to ensure that the recommendations of the committee are swiftly and immediately implemented across all ministries, departments and agencies of the federal government.”

The presidential aide said the goal is to “ensure that there is effective synergy and to ensure that every institution of the federal government is on the same page with respect to how tax policy will be implemented.”

Tinubu also directed that recommendations of the tax policy review committee be given high priority at the next sitting of the Federal Executive Council on Monday, October 30, 2023.

“We want to ensure that our citizens are receiving the best of public service provision. And that is only going to be possible when we have expanded the tax net to such an extent that we are collecting tax to GDP, reaching the 18 per cent threshold as directed and targeted by Mr. President, without any undue burden being placed on the most vulnerable segments of our population,” Ngelale added.

On July 7, 2023, President Tinubu established a Presidential Committee on Fiscal Policy and Tax Reforms, appointing Mr. Oyedele as its Chairman.

The committee comprises experts from both the private and public sectors and has responsibility for the various aspects of tax law reform, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.

It is also meant to promote the effective utilisation of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.

 

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