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Despite criticism against President Bola Tinubu administration’s tax reforms, the Nigerian leader on Monday night said there is no going back on the reforms.
According to him, the tax reforms are in favour of the poor and might not be embraced by everybody.
The President noted that the economy cannot be retooled with old and broken folks.
He spoke during his first presidential media chat in Lagos State.
The tax reform bills already before the National Assembly have been highly criticised, especially by Northern leaders.
The bills included the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
The growing criticism had made the lawmakers to initiate consultation in order to decide whether to continue with it or jettison it.
But speaking on Monday night, the President said that the tax reforms were initiated to remove colonial-based assumptions in the country’s tax environment.
He was confident that those calling for more consultations on the tax reform bills will still do so even if he delays the presentation of the proposed legislation.
The President said “Tax reform is here to stay. In today’s economy, we cannot continue to do what we were doing in the past. We can’t retool with old and broken folks.
“The essence of tax reform is to eliminate colonial-based assumptions in our tax environment.
“Every tax situation without outcry is not a tax. You can’t satisfy uniformly the largest community of tax evaders. Look at this tax reform; it is pro-poor. The vulnerable are not to pay taxes.
“The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done. That is my philosophy.”
On whether he would make some concessions on the proposed Value-Added Tax sharing model, the President said he does not mind cutting edges.
He added, “Tax matters are subject of debates, reviews, and negotiations until you reach a consensus. I don’t mind cutting edges. I will.”