The Federal Government has assured Nigerians that the proposed Tax Reform Bill currently before the National Assembly will protect low-income earners from undue tax pressures while promoting economic development and simplifying the nation’s tax system.
At a press briefing organized by the National Orientation Agency (NOA) in Osogbo, Mallam Lanre Issa-Onilu, the Director-General of NOA, stated that the reforms aim to end the challenge of multiple taxation and make tax administration more efficient.
Represented by Olubukola Olorunfemi, the Director of Report Coordination and Improvement, Issa-Onilu emphasized that the reforms will create an enabling environment for businesses to thrive.
“The tax reform bills are four different bills that seek to bring everything about taxation and administration of tax in Nigeria under four different pieces of legislation,” he explained. The bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
According to Issa-Onilu, once passed, these bills will repeal 11 outdated tax laws and streamline tax collection processes. This will eliminate overlapping levies from different authorities and ensure that those with minimal income pay little to no taxes.
To further enhance the system, digital tools will be introduced to simplify tax payments, making them faster, more transparent, and accountable. Revenues collected through these reforms will be allocated to improving essential public services like schools, hospitals, and infrastructure.
“The government is working to stop different levels of authority from taxing people for the same thing. Those earning very little will pay little or no taxes, helping them manage their finances better,” Issa-Onilu said.
