FG Moves To Reduce Over 200 Official, Unofficial Taxes As President Tinubu Gets Report On Tax Reforms

President Bola Ahmed Tinubu has received the report on Fiscal Policy and Tax reforms, which is asking the Federal Government of Nigeria to  reduce  over 200 official and unofficial taxes being collected from different states to below 10 to encourage businesses to thrive in the country 

The Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele who made this known to newsmen on Tuesday  at the Presidential Villa on in Abuja, said the committee had fulfilled the first part of the presidential mandate given to the committee and would now commence work on the second phase

The second phase according to him,  is on critical fiscal reforms that will entail legislative and constitutional amendments that will reduce the over 200 official and unofficial taxes collected from Nigerians across the different federating units, to below 10.

Also speaking, the presidential spokesman, Ajuri Ngelale, said Tinubu has directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to liaise with the Secretary to the Government of the Federation, George Akume, 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 move according to Ngelale ,  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 to be implemented.

He added that President Tinubu emphasized that all must be done without undue burden being placed on the most vulnerable segments of the society.

It will be recalled that President Bola Tinubu had inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms on August 8, 2023, mandating the committee to “achieve its mandate within one year. 

They are, in the first instance, expected to deliver a schedule of quick reforms which can be implemented within thirty days. 

Critical reform measures according to the mandate to the committee,  should be recommended within six months and full implementation will take place within one calendar year.