President Bola Tinubu has affirmed that his administration’s tax reforms are a permanent fixture, despite ongoing controversies surrounding the proposed bills.
Speaking during his first presidential media chat on Monday night in Lagos State, Tinubu expressed confidence in the reforms, which are currently before the National Assembly.
The tax reform bills, including the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill, have sparked debates, with significant pushback from Northern leaders.
This has prompted lawmakers to initiate consultations.
Despite the resistance, Tinubu argued that the reforms are designed to benefit the poor, though they may not be universally accepted.
He explained, “The essence of tax reform is to eliminate colonial-based assumptions in our tax environment.”
Tinubu emphasized that tax reforms are essential in today’s economy, stating, “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.”
He also highlighted the pro-poor nature of the reforms, asserting that the vulnerable would not bear the burden of taxes.
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,” he added.
The President further asserted that leadership requires making difficult decisions at the right time, saying, “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.”
When asked about making concessions on the proposed Value-Added Tax sharing model, Tinubu showed a willingness to negotiate, stating, “Tax matters are subject of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will.”
