MINISTRY OF FINANCE HOSTS CITIZENS’ ENGAGEMENT ON PROPOSED TAX REFORM

In a bid to sensitize the public about the new proposed tax reform, the Ministry of Finance, Budget, and Economic Planning has organized a one-day citizens’ engagement and interactive session on Tax Reform Bills.

In his opening remarks, the Commissioner for Finance, Budget, and Economic Planning, Hon. Asiwaju Idris, stated that the initiative aims to foster collaboration between the government and citizens, ensuring that the voices of the people are heard in the formulation of the bills.

He said the purpose of this engagement is to provide a platform for citizens to engage with policymakers, understand the importance of the proposed tax reform, and explore how it can benefit the state.

According to the Commissioner, this demonstrates the government’s commitment to transparency, accountability, and inclusive governance under the administration of Alh. Usman Ododo.

Hon.Idris noted that Tax reform plays a crucial role in ensuring fair taxation, enhancing revenue generation, and promoting economic growth in our state.

The commissioner emphasized the significance of citizen engagement in shaping policies that directly affect the daily lives of the People.

“Tax reforms are not just about numbers; they impact the services we deliver and the future of our economy the commissioner said.

He, however, encourages citizens to participate in the ongoing consultation process, providing feedback and suggestions on the proposed tax reform bills, stating that the collaborative approach will ensure that the final bills reflect the needs and aspirations of the people of Kogi State.

In his paper presentation, the Chairman of the Kogi State Internal Revenue Service, Alh. Sule Enehe explained that the proposed tax reform bills are designed to streamline tax administration, reduce the burden on low-income earners, and promote economic growth.

The KGIR Chairman said Some of the key proposals include exemptions for small businesses, simplification of the VAT regime, and the introduction of a windfall tax on Nigerian banks’ FX profits.

His presentation covered topics such as:

– An overview of the proposed tax reforms
– The importance of tax compliance and its impact on public service delivery
– Strategies to enhance public participation in the tax system
– Addressing common misconceptions about taxes

Also speaking at the program, the National Deputy Publicity Secretary of the APC, Hon. Duro Meseko, expressed the party’s solid support for Mr. President and his economic policies. He emphasized that the President’s reforms would benefit citizens if implemented.

In their separate goodwill messages, the Commissioners of Education and Technology, Youth, and Sports, as well as representatives from Civil Society Organizations and Students unions, expressed their support for the tax reform bill, urging leaders to ensure its successful passage into law.

Princess Funsho Sumanu
Ministry of Finance, Budget and Economic Planning.