Members of the House of Representatives’ Southern Caucus on Tuesday expressed support for President Bola Tinubu’s tax reform bills.
The lawmakers briefed journalists on Tuesday after a meeting the residence of the Deputy Speaker, Benjamin Kalu.
They said they received the tax reform bill as a welcome development and will give the bill the necessary support needed to improve the tax system in the country
According to the caucus chairman, Nicholas Mutu, the southern lawmakers will consult widely over the controversial clauses to ensure all stakeholders are carried along.
Regarding key northern leaders’ opposition to the bill, the Southern Caucus stated that it would continue to meet with its counterparts from the north to find a middle ground on all contentious issues.
The four executive bills transmitted to the National Assembly by President Tinubu on September 3 were the subject of heated verbal exchanges among lawmakers in the Green Chamber at a closed-door session a fortnight ago.
The bills were transmitted to the National Assembly following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.
They include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will give a clear and concise legal framework for all taxes in the country and reduce disputes.
Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.
Since the President’s transmission to the parliament, the bills have been greeted with stiff opposition, particularly from the 36 state governors, who in October called for their withdrawal to allow room for more consultation.
Source: Channels Tv
