Taiwo Oyedele, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, on Sunday, said the committee does not intend to introduce new taxes or impose higher tax rates on Nigerians.While responding to the frequently asked questions about the committee, he said the committee is making progress with its work and is on track to meet its deliverables on time according to plan.
Responding to the question on the expectation of more taxes and frequent changes to the tax laws, Mr Oyedele said there is no plan to increase taxes. Rather, he said, the committee would help harmonise revenue collection to reduce the tax burden. He explained that the committee was set up by President Bola Tinubu to review and redesign Nigeria’s fiscal system with respect to revenue mobilisation, both tax and non-tax quality of government spending and sustainable debt management.
Firstly, quick wins within 30 days focusing on urgent interventions to cushion the effect of current socio-economic challenges. He noted that members of the committee are drawn from a diverse pool of eminently qualified Nigerians across all geopolitical zones, age brackets, religion, and gender.