The House of Representatives has called on the Federal Government to reassess its tax policies, particularly on essential goods, to alleviate the economic pressure on Nigerians. During Thursday’s plenary session, the motion, raised by Peter Aniekwe, the representative for Anambra East/Anambra West Federal Constituency in Anambra State, highlighted the negative effects of the current taxation system on the masses.
Titled “Need for government’s sensitivity to the plight of the masses and the call to refrain from shifting economic burden through unnecessary and multiple taxations,” the motion focused on the growing hardship faced by citizens due to inflation, unemployment, and the escalating cost of living. The Labour Party legislator emphasized that multiple taxes, such as consumption and service levies, are disproportionately affecting low-income families, making it harder for them to afford basic necessities like food, healthcare, housing, and education.
Aniekwe urged the government to strike a balance between generating revenue and ensuring the economic welfare of its citizens. He suggested that the Federal Government explore alternative revenue streams, such as broadening the tax base, enhancing tax administration, cutting down on governmental waste, and tackling corruption, instead of overburdening the already struggling populace.
In response, Speaker Tajudeen Abbas mandated the House Committees on Finance and the Federal Inland Revenue Service to review existing tax laws and streamline tax collection processes within three weeks. The review aims to eliminate redundant taxes, identify double taxation areas, and offer citizens relief without undermining government revenue goals.
Additionally, the House recommended the implementation of alternative strategies to boost revenue generation, such as targeting high-income earners, enforcing current tax laws more effectively, and closing loopholes within the tax system. The National Orientation Agency and related bodies were also directed to launch campaigns educating the public on their tax rights and responsibilities, encouraging citizens to report any cases of exploitation or unjust taxation.
The House further urged the immediate suspension of any new tax initiatives that disproportionately affect low-income individuals until a comprehensive impact review is conducted.
This resolution follows the Federal Government’s recent exemption of 63 essential items from Value-Added Tax (VAT), as part of its ongoing fiscal reforms aimed at easing financial strain on the populace.
Source: Dirisu Yakubu, The PUNCH
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