PBAT's tax reform bill is neither a rush nor an hurried affairs - it is the result of 14 months of hard work and consultations with several stakeholders such as governors forums, student bodies, market women, private and public organizations and association etc.
The bill aims to reform Nigeria's tax system, making it more efficient and effective.
Some key aspects of the bill include:
Remove tax burden from the poor low income: The bill aims to exempt anybody that earn less than 800k per annum.
Reduce tax for middle incomes: The bill aims to reduce tax for middle income earners
Simplification of Tax Compliance: The bill aims to make tax compliance easier for individuals and businesses.
Improved Tax Administration: The bill seeks to strengthen tax administration in Nigeria, reducing the risk of tax evasion.
Increased Revenue Generation: The bill is expected to generate more revenue for the government, which can be used to fund public projects and services.
The Presidency has replied to critics of the bill, stating that it's a well-thought-out piece of legislation that will benefit Nigeria's economy in the long run.
The tax bill has passed through 14 months of consultations. Some politicians and opposition are playing politics with the reform, accusing the government of rushing and hurrying citing that PIB took 20 years.
Those who read the bill majorly agree with it. The selfish opposition and politicians convert it to an opportunity to block it from hearing at NASS. And also use various media to conspire and misinform Nigerians.
Ref:
https://punchng.com/tax-reform-bill-product-of-14-month-work-presidency-replies-critics/
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