ABUJA, Nigeria (VOICE OF NAIJA)-The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Mr Michael Ango, says Nigeria’s new tax reform is aimed at reducing the burden on low-income earners.
Ango made the remark at the BusinessDay Tax Reform Conference held in Abuja on Thursday.
The conference was themed “Navigating the New Tax Regime: What It Means for Your Wallet”.
He explained that the tax reform was structured to promote fairness and equity in revenue collection.
“The lowest income earners in the country will be relieved from taxation. We will try to relieve this people who earn within a certain threshold, while ensuring that those on higher income bands contribute their fair share.
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“Taxation is an invitation from government to partner with them in providing essential services.
“If we all contribute, government can build schools, hospitals, roads, and provide security so citizens can go about their businesses without interference,” Ango said.
He encouraged Nigerians to familiarise themselves with the reform, visit relevant government offices and seek clarification where necessary.
“This is not about politics, it is about progress and building a system that works for everyone,” he added.
Also speaking, the Chairman of the National Tax Implementation Committee, Mr Joseph Tegbe, said the new tax system is simple, fair and efficient.
“Nigerians have nothing to fear in the new tax reforms and anyone who feels over-taxed can always file complaints which will be reviewed by appropriate tax authorities.
“The goal of this reform is to make the tax system simpler, fairer and more efficient for government, businesses and for all of us who live and work in the country,” he said.
Earlier, the Publisher of BusinessDay, Mr Frank Aigbogun, said the conference was organised to bridge the gap between policy intentions and everyday economic realities.
Aigbogun, who was represented by the Executive Director, Mr John Osadolor, noted that the event also examined the recent tax reforms introduced by the president.
“These laws are designed to simplify Nigeria’s tax landscape, drive economic growth, increase revenue generation and enhance effective tax administration across all levels of government,” he said.
Meanwhile, Prof. Uche Uwaleke of Nasarawa State University, Keffi, said the reform would provide relief for households and support small businesses.
“For many households, the reform will provide significant relief by expanding exemptions for low-income earners and protecting pensions and healthcare contributions from additional tax burdens,” he said.
(NAN)