The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has explained the essence of the tax reform bills proposed by President Bola Tinubu.
Oyedele said the essence of the tax reform bill is not to generate revenue.
Speaking during the Tax Reform Bills Town Hall meeting on Monday, he said the bill was aimed at fixing Nigeria’s economy and ensuring prosperity.
“The essence of the tax reform bills is not to generate revenue but to fix the economy in a way that there will be shared prosperity for Nigerians,” he said.
The four tax reform bills proposed are before the National Assembly and have been on the front burner of national discussion.
The four bills—the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—are currently before both chambers of the National Assembly for passage.