The presidential spokesperson, Dele Alake, made this known while speaking with State House correspondents at the Presidential Villa in Abuja on Thursday, July 6, 2023.
Alake announced that the Presidency acknowledged the concerns raised by manufacturers and other stakeholders regarding recent tax changes.
He said the Tinubu administration had observed that certain tax policies were being implemented retroactively, with some even predating the official publication of the corresponding legal instruments, adding that “this gap has posed implementation challenges.:
Alake emphasized that while the motives behind the upward adjustments of these taxes were commendable, they aimed to generate revenue and address environmental and health issues.
“However, they have also generated significant challenges and serious complaints from key stakeholders and the business community,” he said.
He highlighted some of the problems identified with the aforementioned tax changes.
Alake pointed out that the 2017 National Tax Policy, approved by the Federal Executive Council of the previous administration, stipulated a minimum notice period of 90 days from the government to taxpayers before any tax changes can be enforced.
“This aligns with global practices and ensures that taxpayers and businesses have sufficient time to adapt to the new tax framework,” he pointed out.