The People’s Democratic Party (PDP) and other stakeholders on Monday addressed concerns regarding the current tax bills before a final consultation by the president.
During the meeting, Mr. Ibrahim Abdullahi, the PDP Deputy National Publicity Secretary, and Mr. Timothy Osalodor wondered why President Bola Tinubu was in such a hurry to pass the bill into law.
It was also gathered that over the past two weeks, the bills have sparked several discussions, with some northern lawmakers strongly opposing their passage.
Ignoring these controversies, the president, in October, transmitted four tax reform bills to the National Assembly for consideration.
The federal government mentioned that the bills are aimed at targeting the nation’s tax system. These include the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
It was confirmed later at the meeting that the proposed legislation seeks to consolidate existing tax laws, establish a clearer framework for tax administration, and create bodies like the Tax Appeal Tribunal and the office of the Tax Ombudsman.
President Bola Tinubu’s spokesperson, Bayo Onanuga, also emphasized that the bills would not favor any part of the country, contrary to the agitations of critics.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills,” Mr. Onanuga wrote in a statement shared with PREMIUM TIMES.
“Government agencies such as NASENI, TETFUND, and NITDA are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.”
He also explained that the bills seek to consolidate the various taxes into a single tax and share them appropriately.
“For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
“The proposal, as contained in section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.
“The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations, in line with the constitution and international best practices,” he added.
