By Olasubomi Olateju
The federal government’s tax reform policy has been adjudged as an initiative that will be of immense benefits to the different segments of Nigerians.
This was part of the major issues that dominated stakeholders’ engagement organized by the National Orientation Agency, NOA , in Ado-Ekiti, Ekiti State.
The event which held on Wednesday was in continuation of the agency’s nationwide sensitization campaign on addressing some of the country’s fundamental challenges.
One of the stakeholders, the traditional ruler of Iyin-Ekiti, Oba Ademola Adeniyi Ajakaye, who was represented by the Odofin of Iyin-Ekiti, Chief Ayodeji Esan, appealed to Nigerians to support the tax reforms of the federal government which according to him would yield positive dividends.
Others who contributed pointed out that though the bill to actualize the policy is still undergoing deliberations at the National Assembly, there is no need to see the reforms as something that will cause hardship for the citizens when the initiative eventually becomes law.
The Director-General of the Agency, Mallam Lanre Issa-Onilu, represented by the Director, Community Outreach and Development, Mrs Olubukola Olorunfemi, said the stakeholders’ engagement represents more than government initiatives, but a call to action by every Nigerian to cooperate for the realization of the dreams.
In her presentation, she expatiated on the reforms, gave their breakdown and what Nigerians stand to gain.
Tax Reforms
The proposed tax reforms by President Tinubu presents an opportunity to reshape our economic landscape. While tax reforms are often met with apprehension, this initiative aims to streamline tax processes, enhance revenue generation, and promote economic growth.
She noted that Nigerians see the policy as a source of concern by misconceiving the initiative as multiple taxations that will negatively affect low-income earners.
To address these challenges, the NOA chief remarked that the federal government is implementing these reforms to make the system fairer and less burdensome for citizens. The tax reform bills seek to bring everything about taxation and administration of tax in Nigeria under four different pieces of legislation.
The Nigeria Tax bill.
The Nigeria tax administration bill.
The revenue service establishment bill, and the joint revenue Board establishment bill.
The Nigerian Tax bill is where all major taxes imposed on individuals and companies are clearly stated as well as the rates.
The Nigerians tax bill basically amalgamated all the existing laws in which provisions for taxation was made, when passed, the bill will lead to the repeal of 11 laws that contains provision on imposition and collection of tax.
(1) When passed into law, the low salary earners will pay little or no tax at all in other to help them manage their finances better.
(2) Revenues from tax collected will be used to improve essential public services like schools, hospitals and infrastructures.
(3) There will be no more double taxes. The government is working on how to stop different levels of authority from imposing tax on people for the same thing.
Another area that the stakeholders, mainly officers from the various security outfits in the state beamed their searchlight was on security consciousness. Representatives from the Police, State Security Service, Nigeria Immigration Service, Nigerian Security and Civil Defence Corps, Nigeria Drug Law and Enforcement Agency among others were unanimous in their advice to citizens to be security conscious.
They explained that by this period of the year, expected and unexpected vices will be a commonplace. Hence, from individual presentation perspectives, different tips were offered in tackling security challenges.
On the exponential rise in get-rich-quick menace, the youths were particularly cautioned not to engage in acts capable of mortgaging their future by pursuing life on the fast lane.
The stakeholders among them a youth from the office of Civic Orientation and Citizenship, Mr Oyeyemi Adeola enjoined the youths to choose life that is dignifying and try to impact in the society. He cautioned that inordinate ambition will not take them anywhere but rather a shortened life.
Others in attendance were human rights representative, religious leaders, students, corps members, members of the Civil Society Organizations and allied public bodies.
Earlier in her opening remark, the Ekiti State Director of the Agency, Mrs Oluwakemi Akomolede, reiterated the organization’s commitment to keeping the people abreast of the federal government’s development agenda.
She appreciated everyone in attendance and commended staff of the agency for being very supportive.
