Islamic Groups Endorse New Tax Reform Bills

Islamic Groups Endorse New Tax Reform Bills 

...Says They are with Good Intentions

Satisfied with contents of new tax reform bills, the amalgamation of Islamic groups under aegis of Islamic Forum for Unity of the Ummah have endorsed the controversial proposed reforms introduced by President Bola Tinubu-led administration.

The  Islamic Forum, which initially expressed fears and reservations about tax bills said after careful study of the content and wide consultants with experts, it was discovered that the bills are with good intentions and not dangerous to the interest of Islamic religion and Nigerians. 

President had on On September 3, 2024, transmitted four tax reform bills to the National Assembly for consideration, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.

The Islamic Forum,which announced the endorsement in a communique issued after a meeting held in Abuja said  it decided to support the bills on grounds that they have the potential to reshape Nigeria’s fiscal landscape and drive economic growth and sustainability.

While recalling why the Northern traditional rulers; Northern States’ Governors Forum (NSGF) and other leaders in the region  opposed the Nigeria Tax Bill, claiming it would improvish the region, the Islamic groups, urged the federal government to embark on mass enlightenment programme to educate Nigerians about the contents of the bills 

The communique  jointly signed by the Chairman, Mallam Adam Awwal Muhammad and Secretary Sheikh Akanbi Rashidi Bolaji, reads: That there is no basis to entertain any fear about these bills. If anything, Nigerians will commend Tinubu for laying a solid foundation that will ensure the fiscal stability of the country, if they get to know the details of the documents.

"The Nigeria Tax Bill aims to codify all of the taxing provisions into one single document, to be known as the Nigeria Tax Act when passed into law. In the bill, chapters are devoted to the various tax types in a simplified format. The proposed tax law is also written in a simple language that anyone with basic literary education can read and understand. 

"After intensive deliberations and analysis of the content of proposed reforms,we gathered that key components are  intended to reduce overlapping taxes; harmonise tax processes nationwide; and create a Joint Revenue Board to streamline tax administration across the country.

"Against this background,We are appealing to our Muslim brothers to support the tax reform initiative .

We are urging the Non Governmental Organizations, Civil Society Organization,and government at all levels to to ensure the documents are made public.

"We however,suggest that President Tinubu meet with Governors , stakeholders and manufacturers and the ordinary citizens to discuss importance of bills to growth and development of our country."