JUST IN: Tax reform bills won’t harm north, no plan to scrap agencies

A Trusted Nigerian Newspaper

The Presidency has clarified that the proposed Tax Reform Bills do not recommend the scrapping of prominent agencies such as TETFUND, NASENI, or NITDA.

The changes, he noted, are designed to modernize outdated tax laws, fostering national growth without impoverishing any region. 'Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.

'The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations.

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