CITN Commends Govt’s Tax Reforms Efforts
The President of Chartered Institute of Taxation of Nigeria, Samuel Agbeluyi underscored the government’s commitment to overhauling Nigeria’s tax system to foster economic growth and stability amid ongoing reforms.
He however praised the tax reform efforts and urged constructive stakeholder engagement to improve proposed legislation amid ongoing debates in the National Assembly.
Agbeluyi said this while addressing participants at the CITN 4th Presidential Press Briefing and Media Workshop in Alausa, Ikeja, Lagos State.
“Outcome of the work of the Presidential Committee on Fiscal Policy and Tax Reforms After painstaking and exhaustive work, the output and recommendations of the Presidential Committee on Fiscal Policy and Tax Reforms has given rise to the Economic Stabilization Bills currently under legislative consideration and scrutiny at the National Assembly.
As expected with major tax reforms anywhere, it has elicited a lot of concerns and reactions from stakeholders.
“CITN welcomes this great effort by the current government in envisioning and pushing for these tax reforms which are necessary at this point in our national life.
“The bills are capable of transforming the tax space in Nigeria, addressing systemic challenges that have bedeviled the effectiveness of our tax system and to engender an enabling environment for businesses to thrive.
“At the Institute, we welcome the interest of stakeholders in the Bills as it is part of the process of ensuring that the provisions of the Bills are all encompassing.”
The Institute however, urges all those who have expressed concerns about certain aspects of the Bills to base their assertions on facts and figures and endeavour to make their suggestions and recommendations on specific provisions of concern for a more enriched document.
“At the level of the Institute, while we were participated at one level or the other in the process leading to the drafting of the Bills under reference, we still have some observations in the Bills which we will present at the Public Hearing on the Bills.
Ladies and gentlemen, once again, I want to thank you for your attendance at this workshop and look forward to a rewarding session,” he said.
Source: dailyeconomy.ng
