National Assembly’s Tax Reform Bills: Senator Dickson Assures Stability

Senator Dickson on Tax Reforms: Why the Heavens Won’t Fall

Senator Seriake Dickson has reaffirmed the commitment of the National Assembly to pass the tax reform bills currently under deliberation, emphasizing their significance in entrenching fiscal federalism and revitalizing Nigeria’s taxation framework.

He dismissed concerns over opposition to the bills, stressing the importance of legislative progress despite dissent.

The tax reforms, proposed by President Tinubu, aim to simplify the tax system, reduce the burden on small businesses, and increase state governments’ share of VAT revenue from 15% to 55%.

Dickson noted that these reforms would help states boost revenues and promote investments while creating jobs.

He countered criticisms about timing and lack of consultation by highlighting that necessary adjustments can be made during public hearings.

The bills have already passed their second reading, moving closer to enactment despite mixed reactions from lawmakers.