Due to its controversies, the National Economic Council (NEC) has decided to withdraw the Tax Reform Bill from the National Assembly. This decision was made to ensure that all stakeholders were involved in the process.
The NEC, headed by Vice-President Kashim Shettima and comprising governors, made this recommendation after considering the concerns raised by various groups. The bills were proposed by President Bola Tinubu’s tax reform committee, headed by Taiwo Oyedele.
According to Daily Trust, Governor Seyi Makinde of Oyo State announced this decision while speaking to state House Correspondents after the NEC meeting. The bill’s withdrawal is seen as a move to address the concerns and ensure broader consultation with stakeholders....Read Full Article [Click Here>]
According to Makinde, the NEC’s decision to withdraw the bill highlights the importance of stakeholder engagement in policy-making. By doing so, the council aims to create a more inclusive and effective tax reform process.
According to the governors, the bills suggested that the bill recommended that states that generate more value-added tax would get higher allocation than those getting little, and most companies have their headquarters in the south while their customers are spread across the country.
