..Says tax reforms bills will integrate untapped revenue sources

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said it supports the tax reforms initiative of President Bola Ahmed Tinubu.

This was as it describes the reformation of the tax process as engaged by tax reform Bills as a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio and positioning the country favourably among nations with high fiscal performance.

The bills, the commission notes have the potential to transform Nigeria’s fiscal landscape.

Addressing the media on Tuesday in Abuja RMAFC Mohammed Bello Shehu, faulted a report by a section of the media ( not New Telegraph) that the commission was against the reform.

Debunking the report, Shehu said RMAFC was actively engaged in the reform process.

“We have drafted a comprehensive memorandum outlining our position, which emphasizes adherence to global best practices. Our stance aligns seamlessly with Mr. President’s vision for a more equitable and sustainable fiscal framework. We applaud President Tinubu’s strong commitment to repositioning Nigeria’s revenue base and his bold initiatives to address the country’s fiscal challenges.

“The proposed tax reform bills are a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio, and positioning the country favourably among nations with high fiscal performance”.

“It is disheartening to note that despite our explicit support for the proposed legislation, some people have chosen to peddle falsehoods for reasons best known to them.

‘These inaccurate statements can undermine the ongoing efforts of patriotic Nigerians who are tirelessly working to support the President in achieving his vision for the country”, RMAFC Chairman said

“It is important to recognize that the RMAFC is a critical stakeholder in Nigeria’s fiscal framework. Our mandate is to ensure an equitable revenue-sharing formula among the three tiers of government.

‘We take this responsibility seriously and are committed to providing expert advice to support the government’s fiscal policy objectives”,