In a significant move aimed at easing the financial burden on citizens, the Nigerian House of Representatives has advocated for a thorough review of existing tax laws and policies. This initiative seeks to streamline tax collection processes and eliminate redundant or overlapping taxes that contribute to the financial strain experienced by many.
The call for reform was articulated during a session where lawmakers adopted a motion of urgent public importance, sponsored by Peter Aniekwe (LP, Anambra). The House emphasized the need to identify areas of double taxation at all levels of government and provide relief to citizens without compromising essential revenue targets.
Lawmakers expressed concern over the imposition of unnecessary and multiple taxes, particularly on essential goods and services. They urged the Federal Government and relevant agencies to be sensitive to the economic challenges faced by the populace and to take immediate steps to review current tax policies.
In addition to reforming existing tax structures, the House of Representatives proposed alternative revenue generation strategies. These include widening the tax net to include more high-income earners, enhancing the enforcement of existing tax laws, and addressing leakages in the tax system. The lawmakers also recommended exploring measures to boost the export of cash crops and agricultural products as a means of increasing government revenue.
Furthermore, the parliament urged the National Orientation Agency (NOA) and other relevant bodies to embark on a public awareness campaign. This campaign aims to educate citizens about their tax rights and responsibilities, encouraging them to report cases of exploitation or unjust taxation to an ombudsman.
Experts have lauded these initiatives, highlighting that a comprehensive tax reform could foster a more equitable tax system, promote compliance, and ultimately enhance the nation’s economic stability. By addressing the pressing concerns of taxpayers while maintaining government revenue, the House is taking a crucial step towards a fairer tax landscape in Nigeria.
