The National Assembly’s recent public hearings on tax reform bills received broad support from stakeholders across Nigeria. Participants called for the passage of the bills after addressing specific concerns, indicating a strong desire for economic growth and fiscal accountability. The discussions highlighted the importance of collaboration and transparency in shaping effective tax policies.
Recent public hearings by Nigeria’s National Assembly have garnered widespread support from various stakeholders, including regional interest groups, government agencies, civil society, and academia, all advocating for the passage of tax reform bills. With most participants endorsing the reforms, the prevailing sentiment was toward refining the proposals before approval, marking a significant moment for fiscal responsibility and economic growth in Nigeria.
The hearings highlighted the public’s eagerness for reform, especially among the Federal Inland Revenue Service, which viewed this as a pivotal moment to reinforce democratic ideals. Discussions illuminated the necessity for collaboration in shaping fiscal policies, as diverse voices, including faith leaders and trade unions, acknowledged the critical nature of the proposed tax reforms.
Initially skeptical, many stakeholders, including those from the North, have softened their positions leading up to the hearings. The Arewa Consultative Forum presented detailed concerns, emphasizing that successful reforms must include careful planning, clear communication, and political consensus to facilitate acceptance among the populace.
Concerns raised during the hearings regarding specific provisions included the makeup of the proposed Nigeria Revenue Service Board, the scope of presidential powers to exempt taxes, and the contentious family income tax. The ACF’s inquiry into the proposed development levy underscored the need for adequate funding for existing initiatives before considering new taxation measures.
Numerous respected groups, such as the Supreme Council for Shariah in Nigeria and the Northern Elders Forum, reinforced objections to particular sections of the bills, notably those addressing inheritance tax and terminology that they felt could infringe upon religious rights. The Kano State Government expressed cautious support for tax modernization, stressing the need for constitutional rights preservation.
Various stakeholders, including key fiscal bodies and trade organizations, provided constructive feedback on the bills, mainly focusing on technical adjustments for improvement while generally supporting reforms. There was a consensus on the urgency of updating outdated tax laws to create a more equitable fiscal environment.
Dr. Zacch Adedeji from the Federal Inland Revenue Service emphasized concerns about misapplication of tax waivers within Free Trade Zones, noting that such practices could harm local businesses and revenue collection. His insights highlighted an ongoing challenge in Nigeria’s economic landscape.
The hearings concluded with robust participation, with significant representation from invited stakeholders contributing to constructive discourse, showcasing democratic engagement. This clear mandate gives the National Assembly ample material to consider as they move toward legislative finalization.
As anticipations grow for the finalization and passage of the tax reform bills, congratulatory remarks are due to the National Assembly leadership for their commitment to advancing these discussions.
The public hearings on tax reform legislation in Nigeria brought forward a unified and constructive response from diverse stakeholders. The discussions identified critical areas for refinement while demonstrating overwhelming support for the bills. The varied contributions reflect a collective desire for improved fiscal responsibility and economic growth, paving the way for future legislative actions that embody democratic values.
Original Source: gazettengr.com
