By Uzair Adam
President Bola Ahmed Tinubu has reiterated his administration’s unwavering commitment to implementing tax reforms, emphasizing their importance for Nigeria’s economic transformation.
The Daily Reality reports that the president made this assertion during his first presidential media chat on Monday night in Lagos State.
The proposed reforms, encapsulated in several bills before the National Assembly, include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
Despite facing backlash, particularly from Northern leaders, and prompting calls for further consultation, Tinubu defended the reforms as being pro-poor and aimed at restructuring outdated colonial tax structures.
“Tax reform is here to stay,” Tinubu stated, adding, “In today’s economy, we cannot continue to rely on outdated systems.
“The essence of these reforms is to eliminate colonial-based assumptions in our tax environment. The vulnerable will not be subjected to taxation.”
Addressing concerns about the controversial Value-Added Tax sharing model, the President expressed his willingness to engage in negotiations but insisted that the reforms would proceed.
“Tax matters are subjects of debate, reviews, and negotiations until consensus is reached,” he said.
Tinubu also remarked that good leadership requires decisive actions at critical moments.
“The hallmark of a good leader is the ability to do what you have to do when it needs to be done. That is my philosophy,” he added.
The proposed tax reforms aim to create a fairer tax system, though Tinubu acknowledged that they might not be universally accepted.