Northern group backs Tinubu’s proposed tax reforms
Northern Economic Development Forum has allayed fears raised by Northern governors and backed the new tax reform policies initiated by President Bola Tinubu, saying the North will benefit from the reforms.
The Northern Governors opposed the Tax Reform Bills and asked the National Assembly to reject it because it would be against the interest of the people of the Northern region.
However, the northern-based development forum, which expressed optimism about the reform initiatives, said there is no cause for alarm as the proposed tax laws will help to enhance and modernise Nigeria’s tax landscape.
Tinubu and the Federal Executive Council recently sponsored a bill to restructure and streamline tax processes, establish a unified revenue service, and simplify financial obligations for businesses and citizens.
However, according to a statement by the Northern Economic Development Forum, there is a dire need to study and understand the proposed bill before attacking it.
While stating that it has concluded arrangements to mobilise support for the Tax Reform Bills via a massive awareness campaign across the 19 States of the north, it insisted the reforms will strengthen the development of the north region and the entire Nigeria.
The statement signed by Dr Mustapha Ibrahim Gusau explained key aspects of the four bills, namely: Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, Joint Revenue Board (Establishment) Act, Nigeria Tax Bill, noting that they are initiated to address potential misconceptions.
According to the forum, available documents show that the new tax laws will not increase the number of taxes currently in operation but are designed to optimise existing tax frameworks, not add complexity.
