Tax Reform Bill Will Protect Poor People — FG

In addition to making doing business easier, the Federal Government has revealed that the Tax Reform Bill before the National Assembly would shield the poor from unnecessary tax payments.

Speaking with newsmen in Osogbo at a press briefing held at the National Orientation Agency’s NOA office, NOA’s Director-General, Mallam Lanre Issa-Onilu, said the bill, when passed, would eliminate multiple taxation, which has become a problem in the country.

Represented by the agency director, Report Coordination and Improvement, Olubukola Olorunfemi, he said the bill would enhance the ease of doing business and development.

His words, “The tax reform bills are four different bills that seek to bring everything about taxation and administration of tax in Nigeria under four different pieces of legislation. The bills are as follows: The Nigeria Tax Bill. The Nigeria Tax Administration Bill. The Nigeria Revenue Service Establishment Bill and the Joint Revenue Board Establishment Bill.

“The Nigeria Tax Bill basically amalgamated all the existing laws in which provisions for taxation were made. When passed, this bill will lead to the repeal of 11 laws that contain provisions on the imposition and collection of taxes.

“The government is working to stop different levels of authority from taxing people for the same thing. Those earning very little will pay little or no taxes, helping them manage their finances better.

“New digital systems are being introduced to make tax payments easier, faster, and more accountable. Tax revenue will be used to improve essential public services like schools, hospitals, and infrastructure, ensuring citizens see the benefits of their contributions.”

He added that the reforms are designed to ease the burden on hardworking Nigerians while ensuring everyone contributes fairly.