Tinubu’s tax bills will stimulate economy – Reps deputy spokesman

The deputy spokesman of the House of Representatives, Philip Agbese, on Tuesday said he was in support of President Bola Ahmed Tinubu’s tax reform bills because he believes they will stimulate the economy and ensure a smooth take-off of a new tax administration devoid of multiple taxations.  He said this informs his decision to lead […]

The deputy spokesman of the House of Representatives, Philip Agbese, on Tuesday said he was in support of President Bola Ahmed Tinubu’s tax reform bills because he believes they will stimulate the economy and ensure a smooth take-off of a new tax administration devoid of multiple taxations.

 He said this informs his decision to lead parliamentary support for the tax reform bills currently before the National Assembly for consideration.

 Daily Trust reports that the tax reform bills have been generating controversies with stakeholders from the North kicking against the proposed legislations.

 The executive bills have, also, not gained the support of state governors who called for their withdrawal a fortnight ago to allow for more consultation; a proposal rejected by President Tinubu.

 On September 3, 2024, the president transmitted four tax reform bills to the National Assembly for consideration, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.

 Speaking with journalists in Abuja on Tuesday, Agbese said he was convinced the reform bills will stimulate the economy if passed into law and implemented.

He said, “I am one of the strongest advocates of President Tinubu’s tax bills because I am a reformer and believe in changes that would better the country. I have studied the document and I’m convinced beyond every reasonable doubt that it will, no doubt, help to improve the economy of the nation.”

While noting that he was currently lobbying his colleagues to draw their attention to the importance of the bills, Agbese said if implemented, the proposals “Will not only benefit Benue State where I come from, it will also benefit everyone that generates taxes and does so dutifully.

“Those who are afraid are doing so because they fear accountability and transparency. These bills will bring about consciousness to tax-payers and once people become conscious of what they pay to the government and what the government earns; they can be assured that there will be a higher demand for accountability.”

He called on the 36 state governors to have a rethink and support the federal government, adding that across the sectors of the economy, there are complaints of over-taxation while a significant number of people doing business are not remitting taxes to the government.

 

“Everyone talks about nations that render social services to their citizens. Those citizens pay their taxes when due. The truth is that in the past few years, many Nigerians have raised the alarm of multiple taxations and this is partly what these proposed reforms intend to address.

 

“Again, some companies are operating in this country that are taking advantage of the gaps in our tax laws to evade taxes. This has resulted in huge revenue loss to the government and needs to be addressed. It is on this note that I humbly plead with our respected state governors to support these bills because, in the end, Nigeria will be the ultimate beneficiary,” he added.