The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has disclosed amendment plans to the National Tax Policy.
Oyedele announced this on Tuesday in a post on his X handle @taiwoyedele.
He said the amendment formed part of the ongoing fiscal and tax reform efforts by the committee.
Oyedele revealed that the committee is seeking public interest to attend a policy exposure and impact assessment between May 2nd and 6th in Lagos and Abuja respectively.
He added that the committee has also drafted new tax laws and submitted proposals for the constitutional amendment of the tax legislation.
He said, “As part of our ongoing fiscal and tax reforms, and based on inputs from our consultations and public engagement, we are revising our National Tax Policy.
“We have also drafted new tax laws and submitted proposals for amendments to the constitution to address various fiscal issues.”
Oyedele said, “In this regard, we are organising a Policy and Impact Assessment Session to provide an update and discuss the key proposed changes.”
In October 2023, Oyedele said that his target was to reduce the number of taxes collected in Nigeria to less than ten.
He noted that over 62 taxes were officially being collected at the different levels of government in the country, which was a burden on Nigerian business operators.
He decried the several informal taxes being collected across the country.