- As part of the move to promote a prosperous nation, President Bola Ahmed Tinubu has inaugurated a new committee
- Tinubu, on Tuesday, August 8, inaugurated the presidential committee on tax reforms at the State House, Abuja
- In his speech, the president disclosed that the federal government cannot continue to tax poverty when it is supposed to promote prosperity
State House, Abuja - The presidential committee on fiscal policy and tax reforms has been inaugurated.
President Bola Ahmed Tinubu inaugurated the committee and hinted at what was expected of them.
The inauguration ceremony was held at the State House in Abuja on Tuesday, August 8, The Cable reported.
As reported by NTA News, President Tinubu, during the unveiling, said:
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"We cannot continue to tax poverty when we are supposed to promote prosperity."
What is expected of the tax reform committee?
This committee is expected to review the current fiscal policies and tax laws in the country and make recommendations on how they can be improved to better serve the citizens, Channels TV report added.
Recall that the presidency, in a statement on Friday, July 7, announced the establishment of the committee by President Tinubu.
Presidential adviser, Dele Alake, noted that the committee would be chaired by Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC), Taiwo Oyedele.
Nigeria moves to end taxes on tomatoes, other food items
The chairman of the Joint Tax Board (JTB), Muhammad Nami, says the Nigerian government has concluded plans to stop taxes on tomatoes and other raw food items to reduce their costs.
Nami disclosed this at the 153rd JTB meeting held in Abuja recently.
He said ending taxation on the ‘non-taxable item’ was part of the proposed tax reforms of President Bola Tinubu’s administration.
Full list of Senate standing committees' chairmen
In another development, the Senate President, Godswill Akpabio, on Monday, August 7, 2023, announced new chairmen of some standing committees in the red chamber.
The Senate president named the chairmen of the committees after confirming 45 of the 48 President Bola Ahmed Tinubu's ministerial nominees during the day’s plenary session.
Senator Adams Oshiomhole, former Sokoto Governor Aminu Tambuwal and former Senate President Ahmad Lawan were some of those who head the major committees.