The Presidential Fiscal Policy and Reforms Committee says it will submit its policy recommendations to the National Assembly by the end of Q3 2024.
The recommendations include new National Tax and Borrowing Policies to be implemented in September and new proposals to amend the Constitution, which would take effect from 2025.
According to the committee chairman, Taiwo Oyedele, the Federal Government would focus on the 5 percent middle class and the elites, insisting that the days of being above the law in paying taxes are over.
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On August 8, 2023, President Bola Tinubu inaugurated the Presidential Fiscal Policy and Tax Reforms Committee headed by Mr. Oyedele, a fiscal policy partner and Africa tax leader at PriceWaterhouseCoopers. The Committee is expected to achieve its mandate within one year.
On October 24, 2023, Oyedele presented a 30-day Quick Win report to President Tinubu, telling State House Correspondents that the Committee recommended merging over 200 taxes being paid by Nigerian businesses into 10.
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