{"id":114949,"date":"2024-10-31T21:03:31","date_gmt":"2024-10-31T20:03:31","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=114949"},"modified":"2024-10-31T21:03:31","modified_gmt":"2024-10-31T20:03:31","slug":"breaking-nec-advises-tinubu-to-withdraw-tax-reform-bill-from-nass","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/breaking-nec-advises-tinubu-to-withdraw-tax-reform-bill-from-nass\/","title":{"rendered":"BREAKING: NEC Advises Tinubu to Withdraw Tax Reform Bill from NASS"},"content":{"rendered":"<div dir=\"auto\">The National Economic Council presided over by the Vice President Kashim Shettima has recommended to President Bola Tinubu to withdraw the Tax Reforms Bill currently before the National Assembly.<\/p>\n<p>The Governor of Oyo State, Seyi Makinde, said the recommendation was\u00a0\u00a0part of resolutions reached at the 144th meeting of the NEC held at the State House, Abuja.<\/p>\n<p>The Oyo State Governor who spoke to the State House Correspondents said that the council\u00a0\u00a0agreed that it was important to create\u00a0\u00a0room for consensus building and understanding of the bill among Nigerians.<\/p>\n<p>Makinde stated that the Council members agreed it is essential to foster a deeper understanding of the bill among Nigerians before moving forward.<\/p>\n<p>Makinde said: \u201cNEC today took a presentation from the Chairman of the Presidential Committee on fiscal policy and tax reforms. Their main focus is fair taxation, responsible borrowing and sustainable spending.<\/p>\n<p>\u201cThe Council acknowledged that the country is underperforming on all indices as regards huge major revenue sources, also tax to GDP ratio and so on.<\/p>\n<p>\u201cSo after extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.<\/p>\n<p>\u201cSo, Council therefore recommend the need to withdraw the bill currently before the National Assembly on tax reforms so that we can have wider consultations and also build consensus around these reforms for the benefit of the entire country, and also to give people\u2026for them to know the vision and where we are moving the country in terms of a tax reform, because there\u2019s really a lot of miscommunication, misinformation.<\/p>\n<p>\u201cSo, the bill will draw from the National Assembly and then there will be consultations afterwards\u201d, he said.<\/p>\n<p>NEC\u2019s decision is coming\u00a0\u00a0days after the Northern Governors kicked against the reform bill and counter explanation by the presidency that the bill was not against the North.<\/p>\n<p>This recommendation comes in the wake of recent endorsements from the Federal Executive Council, chaired by President Bola Tinubu, aimed at streamlining Nigeria\u2019s tax administration processes.<\/p>\n<p>While the Federal Government argues that the proposed reforms will enhance efficiency and eliminate redundancies within the nation\u2019s tax operations, there is significant opposition from northern elites.<\/p>\n<p>The Governors of the 19 Northern States, under the platform of the Northern Governors\u2019 Forum, rejected the new derivation-based model for Value-Added Tax distribution in the new tax reform bills before the National Assembly, at a meeting on October 28, 2024.<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The National Economic Council presided over by the Vice President Kashim Shettima has recommended to President Bola Tinubu to withdraw the Tax Reforms Bill currently before the National Assembly. The&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":114398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-114949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BREAKING: NEC Advises Tinubu to Withdraw Tax Reform Bill from NASS - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/breaking-nec-advises-tinubu-to-withdraw-tax-reform-bill-from-nass\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: NEC Advises Tinubu to Withdraw Tax Reform Bill from NASS - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The National Economic Council presided over by the Vice President Kashim Shettima has recommended to President Bola Tinubu to withdraw the Tax Reforms Bill currently before the National Assembly. 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