The National Economic Council (NEC) has recommended the immediate withdrawal of the proposed tax reform bill currently before the National Assembly.
This development was conveyed by Governor Seyi Makinde of Oyo State on Thursday fter the conclusion of the NEC meeting that held at the presidential villa in Abuja.
He said this decision was made for the benefit of the entire country and emphasised the need for further consultations regarding the bill.
Just recently , concerns were raised by the Northern Governors’ Forum, and other cross section of Nigerians expressing reservations about the tax bills.
President Bola Tinubu and the Federal Executive Council recently endorsed new policy initiatives to streamline Nigeria’s tax administration processes.
The Federal Government says the new laws are meant to enhance efficiency and eliminate redundancies across the nation’s tax operations.
The reforms emerged after a review of existing tax laws since August 2023. The National Assembly is considering four executive bills containing these tax reform efforts.
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