The House of Representatives has softened its stance on the Tax Reform Bills, paving the way for a public hearing. The bills, which aim to overhaul the country’s outdated tax laws, scaled second reading after a three-hour debate by members.
The House leader, Julius Ihonvbere, set the tone for the debate, explaining that the bills were intended to promote revenue growth, increase employment, and better the lives of ordinary Nigerians. He reassured the public that the reforms would not impose tax burdens on the poor.
Minority Leader Kingsley Chinda expressed support for the spirit behind the bills but noted that opposition members had issues with certain aspects. He advocated for a reduction in the Value Added Tax (VAT) and called for efforts to tidy up areas of conflict.
The debate saw contributions from various members, including Bamidele Salam, who noted that Nigeria operates the most duplicative tax laws in the world. He emphasized that the welfare of Nigerians must be paramount in any reforms.
Deputy Chief Whip Isiaka Ibrahim Ayokunle pointed out that the tax bills would harmonize all tax laws and levies in the country. However, he cautioned that safety nets should be provided for companies operating at a loss.
Sada Soli raised concerns about inconsistencies and challenges in the bills, including constitutional and jurisdictional concerns. He also pointed out that the laws lack interpretation clauses.
Despite these concerns, the bills were overwhelmingly supported by members, who recognized the need for tax reform in the country. The public hearing will provide an opportunity for stakeholders to contribute to the reform process.
