The Coalition of Arewa Groups, comprising 300 organizations across 19 Northern states, has backed President Bola Tinubu’s tax reform bills.
Tinubu’s tax reform bills include the Nigeria Tax Bill 2024, the Tax Administration Bill; the Nigeria Revenue Service Establishment Bill, meant to repeal the Federal Inland Revenue Service, FIRS, Act and create the Nigeria Revenue Service, NRS; and the Joint Revenue Board Establishment Bill.
Northern leaders, including traditional rulers and the Northern Governors Forum, NGF, had opposed the Nigeria Tax Bill 2024, claiming it would impoverish the North.
In the same vein, a prominent northern senator, Ali Ndume (APC Borno South), had declared the bills dead on arrival, further insisting that the National Assembly does not need to study the proposed legislation before throwing it out.
Ndume noted that the timing of the bills, considering the economic situation in the country, does not make sense to him.
“I can tell you that it will be dead on arrival. We don’t need to study the bill,” he said.
“The general thing is that Nigerians are not willing to talk, hear or pay any tax now considering the situation we have faced because this is the government of the people.
“Right now, people can’t even afford what to eat. People are struggling to survive.
“Let people live first before you start asking them for tax,” Ndume said.
However, deviating from the position of the Northern leaders, the Coalition of Arewa Groups said it is endorsing the bill after a thorough examination and exhaustive consideration of the proposed legislation at a meeting in Kaduna on Friday.
In a statement released on Sunday, jointly signed by Alhaji Usman Abubakar and Obadiah Amos, the Coalition commended Tinubu’s vision to reshape Nigeria’s fiscal framework.
According to them, the tax reforms will promote economic growth and sustainability.
The Coalition also lauded the chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, for clarifying the bill’s details through media engagements.
The group urged the National Assembly to expedite the passage of the Nigeria Tax Bill 2024 in order to ensure timely implementation.
Parts of the statement said, “We, the Coalition of Arewa Groups, comprising 300 organizations across the 19 northern states, gathered in Kaduna on Friday to deliberate on President Bola Ahmed Tinubu’s tax bill.
“After thorough examination and exhaustive consideration, we unequivocally endorse the proposed legislation.
“Our endorsement is premised on the understanding that the tax bills are designed to consolidate taxation frameworks, promote economic growth, and ensure sustainability.
“The Presidential Committee on Fiscal and Tax reforms, headed by Taiwo Oyedele, has presented a comprehensive bill to the Federal Executive Council.
“This bill aims to harmonize multiple taxes and levies, unify revenue collection functions, and modernize the tax system. We commend President Tinubu’s vision to reshape Nigeria’s fiscal framework.
“Key provisions of the bill include a gradual increase in Value Added Tax (VAT) from 7.5% to 15% by 2030. Company Income Tax will be set at 27.5% for large companies, reducing to 25% from 2026.
“A 4% development levy will be imposed on companies to fund the Student Education Loan Fund. Additionally, a 5% excise duty will be applied to lottery, gaming, and telecommunications services.
“We applaud the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, for clarifying the bill’s details through media engagements. His efforts have significantly contributed to public understanding. We pass a vote of confidence in the FIRS Chairman and express our full support for President Tinubu’s tax bills.
“The Nigeria Tax Bill 2024 demonstrates President Tinubu’s commitment to the nation’s prosperity. We believe these measures will foster economic development, enhance revenue generation, and promote Nigeria’s growth.
“Our support for the tax bills is grounded in our conviction that they will ultimately benefit the Nigerian people.
“Furthermore, we acknowledge the importance of transparency in the tax system. The bill’s provisions for price transparency and monitoring of publication costs and fees are particularly noteworthy. This level of transparency will contribute to establishing fair and reasonable prices for publishing services.
“In conclusion, we reaffirm our endorsement of President Tinubu’s tax bills. We urge the National Assembly to expedite the passage of the Nigeria Tax Bill 2024, ensuring its timely implementation.“
Daily Post
| Join our new WhatsApp community! Click this link to receive your daily dose of NEWS FLASH content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. |
