President Bola Tinubu has affirmed that the tax reforms introduced by his administration are intended to be permanent.
Gatekeepers News reports that during a presidential media chat on Monday, he explained that these reforms aim to “eliminate colonial-based assumptions” that have historically influenced the country’s tax system.
Tinubu emphasised the need for the nation to adapt its tax methods to align with the current economic landscape, rather than relying on outdated practices.
He also addressed concerns regarding calls for additional consultations on the tax reform bills, stating that such requests would persist even if he postponed the introduction of the proposed legislation.
“Tax reform is here to stay. In today’s economy, we cannot continue to do what we were doing in the past. We can’t retool with old and broken folks,” he said.
“The essence of tax reform is to eliminate colonial-based assumptions in our tax environment.
“Every tax situation without outcry is not a tax. You can’t satisfy uniformly the largest community of tax evaders. Look at this tax reform; it is pro-poor. The vulnerable are not to pay taxes.
“The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done. That is my philosophy.”
Asked if he was ready to make some concessions on the proposed value-added tax (VAT) sharing model, the president said he does not mind cutting edges.
“Tax matters are subject of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will,” the president said.
