Tinubu Receives Tax Reform Update, Calls for Quick Implementation

President Bola Tinubu on Tuesday directed his Special Adviser on Policy Coordination, Hadiza Usman, to collaborate with the Office of the Secretary to the Government of the Federation.

The President gave the directive when he received in audience the Chairman of the reforms committee, Mr Taiwo Oyedele, who presented him a 30-day report on what he called “quick wins” at the Aso Rock Villa, Abuja.

Buhari’s directive aims to harmonize all recommendations from the Presidential Fiscal Policy and Tax Reforms Committee for swift implementation across all Ministries, Departments, and Agencies.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, conveyed this information to State House Correspondents shortly after the meeting, which would have happened in September but for the President’s foreign engagements in India and New York that month.

Negelale said, “President Bola Tinubu received in audience the Acting Chairman of the Federal Inland Revenue Service, Mr. Zack Adedeji, as well as the chairman of the tax policy review committee, Mr. Taiwo Oyedele where the committee presented to Mr. President a report on quick wins achieved by the tax policy review committee, in conjunction with directives given by Mr. President on the day that committee was inaugurated.

“After listening to a presentation by the committee chairman, the President directed the Special Adviser to the President on Policy Coordination, Hadiza Usman, to liaise with the Secretary to the Government of the Federation and the Chairman of the Tax Policy Review Committee to ensure that the recommendations of the committee are swiftly and immediately implemented across all ministries, departments, and agencies of the federal government.”

The presidential aide said the goal is to “ensure that there is effective synergy and to ensure that every institution of the federal government is on the same page concerning how tax policy will be implemented.”

Tinubu also directed that the recommendations of the tax policy review committee receive high priority at the next sitting Federal Executive Council on Monday, October 30, 2023.

“We want to ensure that our citizens are receiving the best of public service provision. And that is only going to be possible when we have expanded the tax net to such an extent that we are collecting tax to GDP, reaching the 18 percent threshold as directed and targeted by Mr. President, without any undue burden being placed on the most vulnerable segments of our population,” Ngelale added.

On July 7, 2023, President Tinubu established a Presidential Committee on Fiscal Policy and Tax Reforms, appointing Mr. Oyedele as its Chairman.

This committee, composed of experts from both private and public sectors, is responsible for various aspects of tax law reform, fiscal policy design and coordination, harmonization of taxes, and revenue administration.

Its purpose is to promote effective tax and revenue utilization, encourage a healthy tax culture, and drive voluntary compliance among citizens.

Kanyi Daily recalls that Bola Tinubu said the Federal Government’s new Students Loan Programme is set to launch in January 2024.