Information gathered by LeadingReporters reveal that barring any last minute changes, the presidency has decided to retract the controversial Tax Reform Bill, with sources indicating that the proposed legislation will be revised and resubmitted to the National Assembly at a later date.
During the 144th meeting of the National Economic Council (NEC) yesterday, which was chaired by Vice President Kashim Shettima, a recommendation was made to withdraw the tax reform bills. This recommendation arose after governors from 19 northern states met in Kaduna on Monday with prominent traditional leaders, where they collectively rejected the Nigeria Tax Reform Bill.
In a communiqué issued after their meeting, the northern governors and monarchs expressed their opposition to the recent Tax Reform Bill, stating that its provisions did not align with the interests of the northern region and other sub-nationals, particularly regarding the proposed changes to the distribution of the Value Added Tax (VAT).
Explaining their decision to reject the Tax Reform Bill, the Chairman of the Northern Governors’ Forum, Governor Inuwa Yahaya of Gombe State, while reading the communiqué of the forum’s meeting said: “This is because companies remit VAT using location of their headquarters and tax office and not where the services and goods are consumed. In view of the foregoing, the forum unanimously rejects the proposed Tax Amendments and calls on members of National Assembly to oppose any bill that can jeopardise the well-being of our people.
