Afenifere Declares Stand On Controversial Tax Reform Bills

The pan-Yoruba socio-political organization, Afenifere, has publicly expressed its support for the Tax Reform Bills introduced by President Bola Tinubu, which have sparked extensive debate across Nigeria.

In a statement, the group clarified its position, distancing itself from opposing socio-cultural organizations and emphasizing the economic benefits of the reforms for the entire nation.

Abagun Omololu, the Organizing Secretary of Afenifere, outlined the group’s endorsement, stating, “Afenifere is in support of the tax reform for its promise of economic revival. We have noted that the bills are a crucial step towards stimulating the Nigerian economy. Hence, with the tax system reform, we hope for improvement of revenue generation at both federal and state levels. This is essential for funding critical infrastructure and social services that will benefit all Nigerians, including those in the North.”

Omololu further highlighted the benefits of proposed changes to VAT administration. “After due scrutiny and consideration, we agree that the proposed changes to VAT administration are designed to align revenue sharing more closely with consumption patterns, affording states to receive funding based on actual economic activity rather than historical allocations,” he said.

The Tax Reform Bills submitted to the National Assembly include four key proposals. The Nigeria Tax Bill 2024 aims to establish a comprehensive fiscal framework for taxation, while the Tax Administration Bill seeks to create a uniform legal framework for all taxes and reduce disputes.

Additionally, the Nigeria Revenue Service Establishment Bill proposes the replacement of the Federal Inland Revenue Service with the Nigeria Revenue Service. The final bill, the Joint Revenue Board Establishment Bill, seeks to establish a tax tribunal and ombudsman to enhance tax administration and resolve disputes efficiently.

Afenifere emphasized that these reforms represent a significant opportunity for economic advancement and better resource management across Nigeria.

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