President Bola Tinubu has stated that his administration’s tax reforms have come to stay.
The Nigerian leader stated this on Monday night while speaking during his first presidential media chat in Lagos State.
The tax reform bills, which are before the National Assembly, have generated controversies and met push back especially from the Northern leaders, forcing the lawmakers to initiate consultation.
The bills comprise the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
However, Tinubu stated that the reforms are in favour of the poor and might not be embraced by everybody.
The President said the tax reforms were initiated to remove colonial-based assumptions in the country’s tax environment.
Tinubu added that those calling for more consultations on the tax reform bills will still do so even if he delays the presentation of the proposed legislation.
He said, “Tax reform is here to stay. In today’s economy, we cannot continue to do what we were doing in the past. We can’t retool with old and broken folks.
“The essence of tax reform is to eliminate colonial-based assumptions in our tax environment.
“Every tax situation without outcry is not a tax. You can’t satisfy uniformly the largest community of tax evaders. Look at this tax reform; it is pro-poor. The vulnerable are not to pay taxes.
“The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done. That is my philosophy.”
Asked if he was ready to make some concessions on the proposed Value-Added Tax sharing model, the President said he does not mind cutting edges.
He added, “Tax matters are subject of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will.”
