By John Joseph
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The Director General of the National Orientation Agency, NOA, Lanre Issa-Onilu, has emphasized the importance of tax reforms in funding national development and improving public services. Speaking at the launch of a nationwide sensitization campaign on five critical national issues, including the contentious Tax Reform Bill, Issa-Onilu highlighted the need for awareness and understanding of the reforms.
The campaign, themed “Promoting Awareness, Ethical Values, and National Development,” aims to address challenges and promote unity. Acknowledging public concerns, Issa-Onilu noted that multiple taxation and its impact on low-income earners remain significant issues. The government is committed to implementing reforms to make the tax system fairer and less burdensome for citizens.
Benefits of Tax Reforms
The four tax reform bills aim to consolidate and simplify Nigeria’s tax system through new legislation that merges existing laws into a more cohesive framework. The benefits of the reforms include:
Eliminating Double Taxation: The reforms aim to eliminate double taxation, providing relief for taxpayers and promoting economic growth.
Providing Relief for Low-Income Earners: The reforms aim to provide relief for low-income earners, reducing the burden of taxation on vulnerable populations.
Simplifying Tax Processes: The reforms aim to simplify tax processes through the adoption of digital systems, ensuring transparency and making tax payments easier and more efficient.
Impact on National Development
The tax reforms are crucial for national growth, as they will channel revenues into improving essential public services such as schools, hospitals, and infrastructure. “These reforms are designed to ease the burden on hard-working Nigerians while ensuring everyone contributes fairly,” Issa-Onilu stated. “By supporting these efforts, we can create a tax system that not only works for all but also funds development projects that will enhance our nation’s progress.”
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