Tax Reform: Tinubu laid foundation for economic rebirth – Oyedele

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele said President Bola Tinubu has just laid the foundation for economic rebirth by assenting to the four tax reformation bills on Thursday.

He said the new Act will give micro and macro businesses hope of surviving in a harsh economic environment.

He however said while the Tinubu administration should be commended for the great feat, the government needs to focus on how best to implement the new tax laws.

He as well lauded stakeholders in the nation’s economic cycle and the two chambers of the National Assembly for their efforts in making the pieces of legislation which came as executive bills a reality.

Recalled that President Tinubu on Thursday signed four pieces of legislation which included the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

Oyedele spoke on the landmark Act on Friday in a comment made while featuring on Channels Television’s ‘The Morning Brief’.

The tax expert said it is not yet uhuru as the reforms were still in their early stages.

“We’re not under any illusion that the house is ready. If you’re homeless and you manage to put up a foundation, you are still homeless.

“But you’ve made very important progress. And therefore, just building on that, here’s the next phase, and we’re excited to embark on this journey together,” he said.

Expressing satisfaction with the signing of the new tax reform bills, Oyedele said “I feel, first, a sense of satisfaction and fulfillment. I also feel more hopeful about the country. And of course, I’m happy that we’re here.

“It’s been a very difficult journey. And thanks to all our stakeholders… now that we’re here, I think the foundation has been laid,” he said.