Politics
THE House of Representatives has urged the Federal Government to consider alternative revenue generation strategies as against tax increment in the country.
The call was sequel to the adoption of a motion by Rep. Peter Aniekwe (LP-Anambra) and five other lawmakers at plenary on Thursday.
The house suggested widening the tax net to capture more high-income earners, strengthening enforcement of existing tax laws, and plugging leakages in the system and exploring measures to increase export of cash crops and agricultural produces.
Moving the motion, Aniekwe said that the current economic situation of the country, characterised by rising inflation, unemployment, and the increasing cost of living, had led to widespread hardship for the masses.
He said that the imposition of multiple taxes, levies, and charges at various levels of government only serves to exacerbate the financial strain on citizens, particularly those in low-income brackets.
According to him, many of low income earners are already struggling to meet basic needs such as food, healthcare, housing, and education.
The lawmaker said that the government’s primary responsibility is to alleviate the economic challenges faced by the masses.
Aniekwe said that government is expected to ensure only policies that promote economic development, social welfare, and prosperity for all citizens.
“Concerned that the introduction of additional and sometimes unnecessary taxes, including consumption taxes, service taxes, and levies on essential goods and services, places an undue burden on the masses, further widening the inequality gap.
“Mindful that while taxation is necessary for government revenue, a balance must be struck between revenue generation and the economic well-being of citizens, particularly at a time when many families and businesses are still recovering from the economic impact of global and local challenges.
“Alternative measures that can be taken to increase government revenue without overburdening the masses, such as expanding the tax base, improving tax administration, reducing government waste, and curbing corruption,” he said.
The green chambers urged all relevant authorities to be sensitive to the plight of the masses by reviewing current tax policies to prevent the imposition of unnecessary and multiple taxes, particularly on essential goods and services.
In his ruling, the Speaker of the house, Rep. Tajudeen Abbas mandated the Committees on Finance and FIRS to within three weeks, conduct a thorough review of existing tax laws and policies to streamline tax collection processes.
The committee was mandated to eliminate redundant or overlapping taxes that contribute to the financial burden on citizens with a view to identifying areas of double taxation at all levels to provide relief to citizens without jeopardizing government revenue targets.
The house urged the National Orientation Agency (NOA) and other relevant agencies to embark on an awareness campaign to educate the public on their tax rights and responsibilities, and to report any cases of exploitation or unjust taxation to ombudsman.
The speaker mandated Committee on Legislative Compliance to oversee the manifestation of the resolutions. (NAN)
A.I
Oct. 11, 2024
Tags: Rep. Peter Aniekwe Rep. Tajudeen Abbas
