By Kayode Arsba
Thus, President of the Senate Godswill Akpabio has emphasized the need for a unified approach to tax reform in Nigeria, highlighting that the challenge extends beyond merely passing new laws.
He stressed the importance of collaboration among federal, state, and local governments, as well as the private sector and civil society, to create a tax system that benefits everyone.
Akpabio stated this during the opening of a two-day public hearing on tax reform bills organized by the Finance Committee, chaired by Senator Sani Musa.
The Senate President however, said though less than 30 percent of Nigerians pay tax as 100 percent of the people seek good infrastructure like good roads, improved healthcare system among others.
Minister of Finance and Coordination of economy, Wale Edun also expressed support for the bills and suggested that coordination between the Senate, tax authorities, and state officials would be beneficial
In his earlier remarks, Senator Sani Musa emphasized that the key objective of the process is to gather the best perspectives from all stakeholders before finalizing the bills. He noted that these reforms are not only about efficiency but also about creating a more coordinated tax and business system.
The ongoing tax reform efforts include four key bills: the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
