NECA backs implementation of new tax legislation
The Nigeria Employers’ Consultative Association has expressed support for the implementation of new tax legislation scheduled to begin in January.
NECA director-general Adewale Smatt-Oyerinde disclosed this at a media briefing on Tuesday in Lagos.
He commended the Presidential Committee on Fiscal Policy and Tax Reforms for constructively engaging with all stakeholders, despite efforts to misinform the Nigerian populace about its intentions.
He urged the Federal Inland Revenue Service to collaborate with the organised private sector to deepen awareness of the new tax laws.
Mr Smatt-Oyerinde said that the tax reform legislation remained a significant item that had witnessed the most excellent form of organised chaos in Nigeria’s political history.
He urged the federal government to proceed with the implementation of the laws, as the issue of alteration raised by the National Assembly is not sufficient to hinder it, given its economic objectives.
“We cannot continue to run the system the way it was run with a lot of inconsistencies; No law is perfect, and that is why we have made provisions for amendments. As we proceed, we can make necessary amendments, and by doing so, we are building an institution,” he said.
He said that the tax laws were aimed at creating a more conducive and productive business environment for the private sector, thereby generating jobs that would address the root cause of insecurity in Nigeria.
Mr Smatt-Oyerinde said that the stiff resistance to the reforms alone was an indication that some forces were opposed to the growth of the Nigerian economy.
“I have never seen a regulation or legislation that witnessed this kind of engagement or antagonism; I also probably have not seen an item in our lives that has witnessed this kind of organised chaos.
“However, the committee has done tremendous work, moving from one place to another. We all saw the issues, until two weeks ago, when it was alleged that the version gazetted was different from the one passed by the National Assembly,” he said
He urged that the tax legislation be allowed to run seamlessly, for the betterment of the nation.
(NAN)
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