Tinubu Inaugurates Presidential Committee on Tax Reforms

President Bola Tinubu has inaugurated the presidential committee on fiscal policy and tax reforms to eliminate multiple taxation and increase revenue.

The inauguration ceremony was held at the State House in Abuja on Tuesday.

The Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, in a statement on July 7 announced the establishment of the committee by the president.

Alake noted that the committee would be chaired by Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, Taiwo Oyedele.

Also Read: FG Begins Harmonisation of Taxes, Inaugurates Committee Today

The committee comprises experts from both the private and public sectors and will be responsible for various aspects of tax law reforms, fiscal policy design and coordination, harmonization of taxes, and revenue administration.

Economic Confidential reported that multiple taxation has for decades been a burden for businesses in Nigeria. Businesses owners have repeatedly lamented how they are made to pay taxes, levies, among others to various tires of government which negatively impacts their business.

Additionally, FG said this will reduce the current number of taxes, block leakages in the tax system and raise more revenue for the three tiers of government.