The House of Representatives has called for the immediate suspension of a new tax initiative that disproportionately affects the low-income population until a comprehensive review of their impact is conducted.
The resolution of the House followed the adoption of a motion of urgent national importance moved at the plenary on Thursday and sponsored by Hon. Peter Aniekwe and five others.
Moving the motion, Aniekwe decried the current economic situation of the country, characterised by rising inflation, unemployment, and the increasing cost of living, which has led to widespread hardship for the masses.
The lawmaker stressed 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, many of whom are already struggling to meet basic needs such as food, healthcare, housing, and education.
Aniekwe added that the government’s primary responsibility is to alleviate the economic challenges faced by the masses, ensuring policies that promote economic development, social welfare, and prosperity for all citizens.
He expressed concern that the introduction of additional and sometimes unnecessary taxes, including consumption taxes, service taxes, and levies on essential goods and services, places undue burden on the masses, further widening the inequality gap.
He argued that 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.
The lawmaker stressed that there are alternative measures that could 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.
The House therefore called on the federal government and 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.
It also mandated its Committees on Finance and FIRS to within three weeks conduct a thorough review of existing tax laws and policies to streamline tax collection processes and 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 jeopardising government revenue targets.
The House further urged the federal government to consider alternative revenue generation strategies such as widening the tax net to capture more high-income earners, strengthening enforcement of existing tax laws, and plugging leakages in the system; exploring measures to increase export of cash crops and agricultural produces.
It called for “the immediate suspension of any new tax initiatives that disproportionately affects the low-income population until a comprehensive review of their impact is conducted.”
Adedayo Akinwale
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