The Acting Executive Chairman of The Federal Capital Territory Internal Revenue Service, FCT-IRS, Mr Michael Ango, says the Nigeria’s new tax reform is designed to ease the burden on low-income earners.
Ango said this at the Business Day Tax Reform Conference, in Abuja on Thursday.
The conference is Themed” Navigating the New Tax Regime: What It Means for Your Wallet.”
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He said that the new tax reform was designed to ensure fairness and equity in revenue collection.
“The lowest income earners in the country will be relieved from taxation. We will try to relieve this people who earn within a certain threshold, while ensuring that those on higher income bands contribute their fair share.
“Taxation is an invitation from government to partner with them in providing essential services.
“If we all contribute, government can build schools, hospitals, roads, and provide security so citizens can go about their businesses without interference,” Ango said.
He urged every Nigerian to understand the reform, visit government offices, and ask questions.
“This is not about politics, it is about progress and building a system that works for everyone,” he added.
The Chairman of the National Tax Implementation Committee, Mr Joseph Tegbe, in his remarks, said that the country’s new tax system was simple, fair and efficient.
“Nigerians have nothing to fear in the new tax reforms and anyone who feels over-taxed can always file complaints which will be reviewed by appropriate tax authorities.
“The goal of this reform is to make the tax system simpler, fairer and more efficient for government, businesses and for all of us who live and work in the country,” he said.
Earlier, the publisher of BusinessDay, Mr Frank Aigbogun, said the event was organised to bridge the gap between policy intent and everyday economic reality.
Aigbogun who was represented by the executive director, Mr John Osadolor, said it was also to take an in-depth look at the recent tax reforms introduced by the president.
“These laws are designed to simplify Nigeria’s tax landscape, drive economic growth, increase revenue generation and enhance effective tax administration across all levels of government,” he said.
Meanwhile, Prof, Uche Uwaleke, from Nasarawa State University Keffi, said that the reform would bring relief for households and support for small businesses.
“For many households, the reform will provide significant relief by expanding exemptions for low-income earners and protecting pensions and healthcare contributions from additional tax burdens,” he said.
NAN
