House of Representatives will rely on proposals and recommendations from diverse Nigerians before adopting the final report on the four tax reform bills currently under consideration.
Speaker of the House, Dr. Abbas Tajuddeen, announced this in a message to a three-day public hearing on the tax reform bills, organized by the House Committee on Finance at the National Assembly Complex, Abuja.
Represented by the House Majority Leader, Prof. Julius Ihonvbere, Speaker Abbas emphasized that the House would collaborate with stakeholders to thoroughly scrutinize the bills, ensuring that the final document reflects the interests of all Nigerians.
“Let us seize this opportunity to bring forth a tax system that serves the best interests of all Nigerians. Let me assure the stakeholders present here and all Nigerians that the House will give deserved attention to every contribution while working assiduously to ensure the passage of the Bills”
He said the bills represent critical proposals from the Executive arm of government aimed at diversifying the nation’s revenue base, promote equity, and foster an enabling environment for investment and innovation.
Dr Abbas Tajuddeen, maintained that the public was designed to foster robust discussions and provide stakeholders the opportunity to make their inputs in identifying areas requiring amendment, clarification or improvement considering the compatibility of the Bills with the 1999 Constitution other extant laws.
Earlier, the Chairman of the House Committee on Finance Mr James Falake, said the introduction of Tax Reform Bills is a transformative steps for the Nigeria’s tax system by streamlining tax laws, improving administration and enhancing revenue collection.
Mr Falake, emphasized that when passed into law the tax reform Bills will set the nation on a path of sustainable economic growth while ensuring that tax payers contribute their fare shares.
In their separate presentations, the supreme council for Shari’a in Nigeria, the Nigeria Judicial Council and the Trade Union Congress advocated for the removal of proposal for tax increase, family tax and derivation in the tax reform Bills.
Other areas rejected in the proposed tax Bills by stakeholders during the public hearing include withdrawal of financial support to the National Information Technology Development Agency NITDA, Tertiary Education Trust Fund TETFUND and National Agency for Science and Engineering Infrastructure NASENI.
The public hearing which is expected to come to an end Thursday this week so far received submission from the Nigeria Customs service, state Governors, Abuja council of Ulamas, Academias, civil society organisations among others.
COV /TSIBIRI
