The Real Reasons Why Tinubu Introduced the Tax Reform Bill Has Finally Been Revealed

• Special Adviser to President Tinubu, Sunday Dare, highlighted the main reason for tax reform in Nigeria
• Dare noted Tinubu’s successful tax reforms as governor of Lagos, which significantly increased the state’s revenue
• Contrary to fears, Dare assured that the tax reforms do not cover individuals earning under £1 million and small businesses with profits under £50 million.

President Bola Tinubu’s Special Adviser on Public Communications and Orientation, Sunday Dare, shed light on the reasons behind the tax reform bills introduced in Parliament National Assembly.

Dare emphasized that the reforms aim to create a more efficient tax system that will promote national development.

legit.ng Tax reform bills involving the Joint Board of Revenue Nigeria The (Establishment) Bill, the Nigerian Revenue Authority (Establishment) Bill, the Nigerian Revenue Administration Bill and the Nigerian Taxation Bill faced stiff opposition when they were tabled in parliament.

In particular, concerns were raised from the Northern Governors’ Forum, which argued that some provisions, such as those relating to Value Added Tax (VAT), could negatively impact northern states. The National Economic Council (NEC) also recommended that the bills be withdrawn for further consultation, The Punch reported.

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According to Premium Times, statements regarding tax reforms were made during the courtesy visit to Premium Times. Abuja On Thursday, November 28, Dare said:

“As a country, the freedom to generate income is within the tax system. “The president’s goal is to improve the tax structure and move from voluntary to corporate taxation while closing revenue gaps.”

He noted that more than 80 percent of Nigeria’s 61 existing taxes are unnecessary and require comprehensive overhaul.

Dare points to lessons from Lagos state

Dare drew parallels with the model of tax reform implemented during Tinubu’s tenure: Lagos State He served as governor between 1999 and 2007.

He said this model transformed the state’s internally generated revenue from N600 million into a robust system that serves as a benchmark today.

“This pattern still exists in Lagos State. You need to combine at least 15 states to meet the tax revenue of Lagos State,” he said.

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Despite these difficulties, Dare, the President’s Tinubu follows the debates closely and remains open to superior arguments.

“We have a president who is willing to listen. He is briefed every day on the arguments for and against reform. We must trust our lawmakers to find common ground,” he said.

Dare: Tax reforms will not burden the poor

Addressing fears of increased hardship, Dare explained that tax reforms would not impose additional burdens on the poor or small businesses.

“Those earning below N1 million and businesses with profits below N50 million will not be taxed. The president’s philosophy is clear: he wants to tax the affluent and not the poor,” he explained.

36 state governors reject Tinubu’s tax reforms

Meanwhile, legit.ng In a decisive move by the 36 state governors of Nigeria under the aegis of the Nigerian Governors Forum (NGF), immediate withdrawal National Tax Reforms Bill.

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Speaking at the National Economic Council (NEC) meeting on Thursday, the governors asked President Bola Ahmed Tinubu to withdraw the Reform Bill from Parliament. National Assembly For more comprehensive consultations.

Source: Legit.ng