A chartered accountant, Mr. Igbikioribo Kalio, has commended President Bola Tinubu for ensuring the passage of the tax reform bills, noting that they would boost the economy if implemented effectively.
Mr. Kalio, who made this known while featuring on our live interactive program, Democratic Platform, said the bills are aimed at enhancing empowerment and development in the country.
He said “The reason for the President’s wisdom in going about this bill is to ehance physical empowerment and development, people need to pay tax because the government have been having lingering effects in terms of revenue most times the government gets grants from other nations, if you go around the world like Uk or US you will see their revenue is being generated from taxes”.
Mr. Kalio, who is also a Tax Consultant, explained that the gradual increase in Value Added Tax from the current 7.5% to 15% by 2030, is to generate more revenue for the government and ensure that states within the federation have resources to meet growing infrastructural needs.
“The intendment of the Federal Government is to ensure accountability by reason of the tax reform bills, we are believing that when the tax reform bills comes into place there will be more accountability, more feasibility in terms of how taxes are collected and used” he noted
The tax Consultant stressed that citizens should focus on holding the government accountable on how taxes are spent, rather than questioning the tax increase itself.
Mr. Kalio expressed optimism that the tax reform bills would lead to rapid development in the country if implemented effectively.
Source: Gift Okeoghene, FRCN Port Harcourt
