Vice-President Kashim Shettima says tax reforms by the Bola Tinubu administration are meant to benefit all Nigerians and not frustrate the economy.
Shettima said this on Saturday in Abuja, at the close-out
retreat of the presidential fiscal policy and tax reforms committee.
Shettima was represented at the event by Aliyu Umar, special
adviser to the president on general duties in the office of the vice-president.
In a statement, Stanley Nkwocha, senior special assistant to
the president on media and communications, office of the vice-president, quoted
Shettima as saying that the dynamics of the nation’s fiscal landscape prompted
the Tinubu administration to pause and reconsider the direction Nigeria was
headed.
“Our aim remains the
revitalisation of revenue generation in Nigeria while sustaining an
investment-friendly and globally competitive business environment,” Shettima
said.
The vice-president expressed confidence in the tax reforms
committee’s ability to execute its mandate, noting the significant shift from
planning to implementation.
He said federal and state governments are ready to
facilitate the effective execution of the committee’s reforms.
He reiterated the government’s commitment to providing the
institutional support needed to integrate these proposals with the
administration’s broader economic strategy.
The Tinubu administration has unfurled a slew of reforms
aimed at increasing government revenues and bolstering the economy.
Some of these reforms have worsened the economic hardship on
Nigerians.
On May 6, the Central Bank of Nigeria (CBN) directed banks
and other financial institutions to implement a 0.5 percent cybersecurity levy
on electronic transfers.
Recently, the CBN reintroduced fees for deposits exceeding
N500,000 for individuals and corporate account holders.
While 2 percent is charged on deposits above N500,000 for
individuals, 3 percent is charged for all deposits above N3 million for
corporate account holders.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com