As reported by Saturday PUNCH, the ongoing debate over the proposed tax reform bills currently before the National Assembly has created significant divisions within the northern caucus of the Senate. While some northern senators have expressed support for the bills, others remain strongly opposed. This shift marks a significant departure from just a few days ago when the majority of northern lawmakers rejected the proposals outright....CLICK HERE TO CONTINUE READING.>>
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The bills in question, which include the Nigeria Tax Bill, 2024, the Nigeria Revenue Service (Establishment) Bill, 2024, and the Joint Revenue Board of Nigeria (Establishment) Bill, 2024, have been a point of contention since their introduction in the National Assembly. These bills have sparked debates due to their potential impact on the country’s tax and revenue systems.
Despite the initial rejection by many northern lawmakers, a growing number of senators are now calling for the bills to be given serious consideration. These senators, who requested anonymity to avoid backlash from their state governors, revealed that only a small minority of their northern colleagues were against the proposals. They stressed that while there is some opposition, the majority of northern senators are not opposed to the bills themselves but rather seek to address and amend certain aspects they find problematic.
A source from the northern region shared that the majority of his colleagues were not against the tax reforms, but rather wanted certain provisions in the bills to be modified or clarified. A member of the Northern Senators Forum further confirmed that those advocating for the withdrawal of the proposals represent a small faction. This lawmaker emphasized that a significant number of northern senators support the bills.
He said, “We are not calling for the suspension of the bills. No doubt, some of our members are calling for the withdrawal of the bills, but they are in the minority. To tell you the truth, those who are calling for the withdrawal are less than 10 and that is me even being modest with the numbers. They are not even up to that.
“However, many of us in the north are worried about the sharing formula of the VAT. In the north, our economy is more in the informal sector because we deal a lot in agriculture.
“So, if they are putting VAT by consumption, we will be at the losing end and those in the cities with a lot of companies will gain so much through the Company Income Tax and others, hence the reason there is a lot of agitation from the north.
“But I believe a consensus can be reached; we will capture all interests and come up with what will work for Nigerians.”…..For More READ THE FULL ARTICLE HERE ▶▶
