The Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, says the legislative arm will enact laws that will effectively eliminate multiple taxation in Nigeria.
He also revealed that the National Assembly is in the process of streamlining the multitude of revenue-collecting agencies as a government.
Kalu stressed that this streamlining initiative aims to improve coordination and crucially, reduce duplicity in tax administration, ultimately making our system more efficient, transparent and accountable.
The deputy speaker in a statement issued Wednesday by his Chief Press Secretary (CPS), Levinus Nwabughiogu, made this known on Wednesday in Abuja while speaking at the World Bank Fiscal Governance and Institutions Project (FGIP) Focus Group Discussion.
He said under the leadership of President Bola Tinubu, Nigeria has embarked on a path of fiscal reform that directly addresses some of the most pressing issues in the tax system and overall fiscal policy.
The deputy speaker stressed that the commitment to reform is a testament to the dedication of the federal government towards achieving a more robust and equitable economic landscape.
Kalu noted: “One of the paramount challenges we are currently addressing as a government, is the issue of tax multiplicity, a labyrinthine web of taxes that has placed undue burdens on both individuals and businesses.
“Simplifying and rationalising this system is imperative to alleviate the compliance burden and to foster an environment conducive to economic growth.
“In parallel, we have recognised the necessity of modernising revenue collection through automation. This strategic move enhances efficiency and, equally important, reduces opportunities for corruption and revenue leakage.
“Furthermore, we are in the process of streamlining the multitude of revenue-collecting agencies as a government. This streamlining initiative aims to improve coordination and, crucially, reduce duplicity in tax administration, ultimately making our system more efficient, transparent and accountable.
“In the realm of tax legislation which is actually one of your objectives to get the buy in of the legislators, there are promising opportunities to introduce comprehensive reform bills that encompass a wide spectrum of objectives, including simplification, modernization, and consolidation of tax laws.
“These reforms hold the potential to bring about increased clarity and efficiency, benefiting both taxpayers and tax administrators.”