Follow Us on Google
From Isaac Anumihe, Abuja
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said that the tax reform bills aim to promote fiscal equity, reduce tax evasion, and increase revenue generation.
While denying reports saying that RMAFC is averse to the bills, Chairman of RMAFC, Mohammed Bello Shehu, said that the objectives are in line with the RMAFC’s mandate, and the commission is committed to supporting their implementation.
In a statement, the chairman, said that the report alluding that the commission is against the bill is not only false but also malicious.
“Let me admit that you are familiar with the proposed tax reform bill submitted to the National Assembly by his Excellency, President Bola Ahmed Tinubu. The bill, for some reasons, has sparked intense debates within the last few weeks, with the contentious issue of Value Added Tax (VAT) allocation and derivation taking a centre stage.
“As a responsible and patriotic institution, the RMAFC has been actively engaged in the reform process. We have drafted a comprehensive memorandum outlining our position, which emphasises adherence to global best practices. Our stance aligns seamlessly with Mr. President’s vision for a more equitable and sustainable fiscal framework.
“We applaud President Tinubu’s strong commitment to repositioning Nigeria’s revenue base and his bold initiatives to address the country’s fiscal challenges. The proposed tax reform bills are a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio, and positioning the country favourably among nations with high fiscal performance” he said.
But he regretted that despite the commission’s support, some people have chosen to peddle falsehoods for reasons best known to them.
“It is disheartening to note that despite our explicit support for the proposed legislation, some people have chosen to peddle falsehoods for reasons best known to them. These inaccurate statements can undermine the ongoing efforts of patriotic Nigerians who are tirelessly working to support the president in achieving his vision for the country” Shehu said.
The statement equally noted that the proposed bill is currently undergoing a consultation process, which is why the president has forwarded it to the National Assembly following a public hearing.
“It is essential that people see professional advice from expert bodies for what they truly are and not be misinterpreted or taken out of context. It is unfair for anyone to come up with such report at a time like this.
“As a commission, we urge the public to disregard these baseless reports and rely solely on official documents and statements. We also implore the media to uphold the sacred standards and ethics of their noble profession. Let us collectively eschew fake news and instead, seek truth, accuracy, and fairness in all our reporting.
“Once again, we reiterate our total support for the tax reform, which aligns with our goal of helping the president in his ongoing fiscal reforms. We acknowledge our responsibility to provide professional guidance whenever necessary and pledge to continue working tirelessly to support the president’s vision for a more prosperous Nigeria.
“It is important to recognise that the RMAFC is a critical stakeholder in Nigeria’s fiscal framework. Our mandate is to ensure an equitable revenue-sharing formula among the three tiers of government. We take this responsibility seriously and are committed to providing expert advice to support the government’s fiscal policy objectives.
“In this regard, we have been working closely with the National Assembly to provide technical input on the proposed tax reform bills. Our goal is to ensure that the legislation is robust, effective, and aligns with global best practices.
“We believe that the proposed tax reform bills have the potential to transform Nigeria’s fiscal landscape.
“However, we also recognize that the tax reform bills are not without their challenges. There are concerns about the potential impact on businesses, individuals, and the broader economy. As a responsible commission, we are committed to addressing these concerns through constructive engagement with stakeholders” he noted
