Nigeria committed to tax reforms

President Bola Tinubu has reiterated his commitment to undertake bold and comprehensive reforms to reposition the country’s fiscal architecture for resilience, inclusiveness and economic growth.

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On Tuesday, Mr Tinubu said this during the 27th Annual Chartered Institute of Taxation of Nigeria (CITN) Tax Conference in Abuja.

The conference’s theme was “Taxation for development, policies, law and implementation”.
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The president, who was represented by the Minister of State for Finance, Doris Uzoka-Anite, said the central pillar of the reforms was taxation.

”I believe that a robust, transparent and fair tax system is essential not only for financing government operations but also for creating an environment of accountability, stability and long-term development.

”Accordingly, the government has taken deliberate steps to restructure and modernise our tax administration and legal framework.

”In this regard, the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms marked a significant turning point,” the president said.

According to him, the committee was tasked to simplify the tax system, broaden the tax base, curb leakages and ensure alignment between fiscal policy and national development objectives.

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“Members of the committee worked tirelessly to achieve their mandates, which include addressing issues of multiplicity of taxes and improving coordination between the federal, state and local government tax authorities.

“The federal government also pushed forward with the Economy Stabilisation Bill, which has now also been passed,” he said.

He said the success of any reform depended on implementation, adding that the conference presented an opportunity for all stakeholders to explore how policies and laws can be translated into practical and measurable outcomes.

“This is also an occasion to discuss solutions to long-standing issues such as taxation, informal sector integration, fiscal federalism and equity in taxation.

“As tax professionals and policy makers, you are the custodians of Nigeria’s tax future.

“I, therefore, urge you to leverage this platform to engage meaningfully, challenge assumptions and craft pathways that will strengthen our tax institutions, boost revenue and ultimately improve the lives of Nigerians,” Mr Tinubu said.

The Vice President, Kashim Shettima, said that the theme was evidence that the CITN acknowledges the centrality of government revenue generation in the achievement of growth and development for any country.

Mr Shettima was represented by the Special Adviser to the President on Economic Affairs in the Office of the VP, Tope Fasua.

He said the focus on the tax aspect of revenue conferred a dual responsibility on the taxpayer and the tax administrator.

“Taxation is crucial to the achievement of economic development. We hope to listen to ideas at this conference around how to ensure that a stakeholder’s view is taken right from the policy enactment stage up to the point of implementation.

“This is bearing in mind that taxation is a continuous affair, and legitimacy is conferred by the delivery of service to taxpayers.

” The need for a stakeholder point of view is why the Presidential Committee of Fiscal Policy and Tax Reforms is made up of professionals from diverse walks of life,” he said.

The 16th President of the CITN Council, Samuel Agbeluyi, said that tax was an important factor in every economy.

Mr Agbeluyi said that taxation was not merely a tool for revenue generation but a powerful instrument for promoting equity, redistributing wealth, incentivising growth and funding public services.

“However, for taxation to truly serve these developmental goals, policy formulation, legal framework, and implementation mechanisms must be harmoniously aligned.

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“When policy is progressive, the law is enabling, and implementation is both efficient and equitable.

“The result is a tax system that engenders trust, encourages voluntary compliance and delivers shared prosperity,” the official said.

He said that Nigeria faced significant challenges in the economy, security, and social dimensions, adding that there was a dire need for sustainable solutions.

“At the heart of these solutions lies our tax system.

”In this regard, one cannot overlook the commendable effort by the Tinubu-led administration.

“The work of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable socio-economic development through an effective and efficient taxation system,” he said.

(NAN)