Tax Reform Bill: Group urges wider consultation
Tax Reform Bill: Group urges wider consultation
A group, the Coalition of Northern Groups (CNG), has urged for a wider consultation with Nigerians on the Tax reform bill, before the National Assembly.
Mr Jamilu Chiranchi, National Coordinator of CNG, made the call in his presentation at a forum in Damaturu, Yobe, with the theme: “Tax Reform Bill, a Catalyst for Economic Growth or a Burden on People?”
He urged members of the national assembly to ensure adequate consultation as was done in passing the Petroleum Industry Bill to allay fears.
Chiranchi, who identified several areas of concern in the bill, including the derivation formula in Section 77, said the formula required clarity on whether derivation should be based on the company’s headquarters or consumption level.
He also expressed concern about Section 59, which proposed to stop funding development levies for agencies such as the National Information Technology Development Agency (NITDA), Tertiary Education Trust Fund (TETFund), and the National Agency for Science and Engineering Infrastructure (NASENI) by 2027.
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Chiranchi argued that these agencies have contributed significantly to Nigeria’s economic, infrastructural, educational, and technological development, and that stopping their funding would undermine their activities.
Mr Hassan Adamu, National Coordinator of the Students Wing of CNG, also raised concern that the proposed stoppage of funding for TETFund would greatly affect Nigerian tertiary institutions.
Miss Fatima Abubakar, North-East Coordinator of the National Female Association of Nigeria, also said that areas of the bill that affects funding of tertiary education, would worsen the already poor state of women’s education and participation in economic activities, especially in the northern region.
