The Deputy Leader of the House of Representatives and Member Representing Ankpa, Omala and Olamaboro Federal Constituency of Kogi State, Rt. Hon Abdullahi Ibrahim Ali Halims has commended President Bola Ahmed Tinubu on his landmark assent to four tax reform bills.
The bills; Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill which are now acts will unify the Nation’s tax system and eliminate divergent revenue loophole for improved generation and better tax administration for the good of all Nigerians.
According to a statement issued by Comrade Muhammed Nasiru Adejoh, the Special Adviser on Media and Publicity to the Deputy House Leader, the Lawmaker is particularly impressed by the introduction of a Development Levy that ranges from 4% to 2%, in allocated sum to support the NELFUND, TETFund, NITDA, and NASENI stressing that the initiative will greatly enhance the delivery of these Agencies’ founding mandates.
Rep. Halims further commended the Value Added Tax (VAT) exemptions on essential goods and services consumed by the poor, including food items, medical services, pharmaceuticals, educational fees as he expressed optimism that the new acts will reinvigorate the country’s tax structure in a manner that will strengthen Nigeria’s revenue base, grant ease to low income earners and by implication enhance local economic growths for long-term national development.
It can be recalled that earlier before assenting to the bill, President Tinubu extolled the National Assembly, Presidential Fiscal Policy and Tax Reform Committee for its meticulous review and tireless works through which the interest of Nigerian and other subnational were well considered in line with his vision of tax administration reforms.
