Yakubu Dogara, a prominent Nigerian politician, has expressed his support for President Bola Tinubu's tax reform bill, describing it as a courageous move aimed at addressing the nation's economic challenges.
The reform, which proposes a progressive increase in Value-Added Tax (VAT) from 7.5% to 10% by 2025, 12.5% by 2026and eventually reaching 15% by 2030, is designed to generate revenue and ensure a fair taxation process for all Nigerians.
Dogara emphasized that the tax reform is not merely about increasing government revenue but also about creating a more equitable system that benefits the majority of taxpayers. "President Tinubu's initiative is a testament to his commitment to preventing Nigeria's problems from escalating," Dogara stated, highlighting the president's dedication to fostering economic stability and growth.
The proposed tax reform has sparked discussions across various sectors, with some stakeholders expressing concerns over its potential impact on businesses and consumers.
However, Dogara reassured the public that the reform is a necessary step towards achieving long-term economic sustainability. "This is a bold and necessary move to ensure that our economy remains resilient in the face of global challenges," he added.
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