The Chairman of the Presidential Tax and Fiscal Policy Reform, Taiwo Oyedele, recently discussed ongoing initiatives aimed at reducing the burden of multiple taxes at the state and local government levels. In an interview with Channels TV, Oyedele emphasized the importance of involving all stakeholders, including the so-called “Area Boys,” to prevent potential crises resulting from the suspension of multiple taxes.
Oyedele suggested a proactive approach by providing training to the Area Boys for tax collection purposes and offering them regular salaries. He proposed that these individuals could be equipped witGing decent salaries, Oyedele believes it is possible to mitigate potential negative consequences while also fostering a positive impact on the economy.
He stated, “We’re also thinking about how you bring all stakeholders on board because at the end of the day, if you stop the livelihood of anyone, whether they are earning it legitimately or not, you can create crises that would be difficult to manage. But once you bring everybody in, maybe we need to train those area boys and touts, give them uniforms and then they’ll be the ones to ask you to show the evidence on your phone, right? And then they get paid a decent salary.”
Regarding the progress on the recommendations submitted by the Tax Reform Committee, Oyedele acknowledged that fiscal policy matters take time to implement. He highlighted that the committee had submitted over 20 recommendations, with only a few fully implemented and the rest in various stages of implementation. Oyedele mentioned the Emergency Economic Intervention Bill as a crucial instrument to implement their recommendations, aiming to amend multiple laws to address issues such as inflation, support small businesses, and contribute to foreign exchange stability.
While recognizing the lawmakers’ efforts in passing the budget for 2024, Oyedele expressed the need to present the bills related to tax reforms to them. He acknowledged the lawmakers’ current focus on urgent matters but emphasized the importance of prioritizing the tax reform bill to bring positive impacts to the Nigerian people sooner rather than later.
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