The Deputy Spokesman of the House of Representatives, Mr Philip Agbese, has stated that his decision to lead parliamentary support for President Bola Tinubu’s Tax Reform Bills.
Currently before the National Assembly, stems from the need to stimulate the economy and establish a streamlined tax administration system, free from multiple taxation.
On September 3, 2024, the President submitted four tax reform bills to the National Assembly for consideration, based on recommendations from the Presidential Committee on Fiscal and Tax Reforms, led by Taiwo Oyedele, to review existing tax laws.
The bills include the Nigeria Tax Bill 2024, aimed at providing a fiscal framework for taxation in the country, and the Tax Administration Bill, which seeks to offer a clear and concise legal framework for all taxes, reducing disputes.
The other bills are the Nigeria Revenue Service Establishment Bill, which proposes to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which would create a tax tribunal and tax ombudsman.
The executive bills have faced opposition from state governors, who requested their withdrawal a fortnight ago to allow for more consultation, a proposal rejected by President Tinubu.
Speaking to journalists in Abuja on Monday, Agbese, a known supporter of the President, expressed his conviction that the reform bills would stimulate the economy if enacted and implemented.
He said, “I am one of the strongest advocates of President Tinubu’s tax bills because I am a reformer and believe in changes that will benefit the country. I have studied the document and am convinced beyond doubt that it will help to improve the nation’s economy.”
Agbese noted that he is lobbying his colleagues to highlight the importance of the bills, adding that if implemented, the proposals “will not only benefit Benue State, where I come from, but will also benefit everyone who generates and dutifully pays taxes.”
He continued, “Those who are afraid fear accountability and transparency. These bills will bring awareness to taxpayers, and once people understand what they pay to the government and what the government earns, there will be a greater demand for accountability.”
He urged the 36 state governors to reconsider and support the Federal Government, highlighting that over-taxation complaints are widespread, and a significant number of businesses fail to remit taxes to the government.
“Everyone talks about nations that provide social services to their citizens. Those citizens pay their taxes promptly. The truth is, in recent years, many Nigerians have raised concerns about multiple taxation, and these proposed reforms aim to address that.
“Additionally, some companies operating in this country exploit gaps in our tax laws to evade taxes, leading to substantial revenue losses for the government, which must be addressed. Therefore, I appeal to our respected state governors to support these bills because, ultimately, Nigeria will benefit,” he added.