President Bola Tinubu has directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to liaise with the Secretary to the Government of the Federation, and the Chairman of the Tax Policy Review Committee to expand and enforce taxes on what he called “the fruit” and not the “seed.”
“I will continue to emphasise the importance of ensuring that our tax authorities are not taxing the seed, but are taxing the fruit.”
The Presidential spokesman, Ajuri Ngelale, quoted President Tinubu as advising tax authorities, when he briefed newsmen on the meeting between the President and the Acting Chairman of the Federal Inland Revenue Service (FIRS), Zack Adedeji, today, October 24, to ensure that the recommendations are swiftly and immediately implemented across all ministries, departments, and agencies of the federal government.
The President said that the tax policy review committee would be made a top most priority at the next sitting of the federal executive council meeting.
‘We want to ensure that our citizens are receiving the best of public service provision. And that is only going to be possible when we have expanded the tax net to such an extent that we are collecting tax to GDP, reaching the 18 per cent threshold, without any undue burden being placed on the most vulnerable segments of our population and without, in any way, increasing any substantial form of the taxes being levied on large scale industry, medium scale industry and small scale industry in the country.”
Tinubu emphasized the need for effective synergy amongst the tax authorities, which he said should ensure that every institution of the federal government is on the same page with respect to how tax policy will be implemented.
At today’s meeting to brief the President was also the chairman of the tax policy review committee, Taiwo Oyedele.