By Ibrahim Hassan-Wuyo

Northern Business Professionals have thrown their weight behind the proposed tax reform bills, insisting that the gains far outweighs the disadvantages and guarantee business development.

The group stated that the tax reform bills were long awaited as they would help to stimulate the economy and establish a streamlined tax administration system; free multiple taxation and reshape Nigeria’s fiscal landscape aa well as drive economic growth and sustainability.

In a statement made available to journalists , the Northern Business Professionals stated that there was no basis to entertain any fear about the bills. ” If anything, Nigerians will commend Tinubu for laying a solid foundation that will ensure the fiscal stability of the country,” they added .

The statement signed by Abubakar Mustapha Kauru , assured that ,”When Nigerians get to know the details of the documents, they will know that the president is working to bring relief to them and their businesses.”

They noted that multiplicity of taxes was one factor that has continued to impede efficiency in Nigeria’s tax system, with a negative impact, adding ,” The four executive bills seek to tidy up the fiscal policy and legislation environment in the country.”

“These bills seek to translate the recommendations of the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, into an implementable legislative framework for the benefit of Nigerians.”

“Though the transimission of the bills to National Assembly sparked debates in the polity about the purpose of the bills with some persons expressing fears that it might encapsulate proposals calling for a raise in tax rates in a way that will further burden the citizens.”

“There is a dire need to modernize the nation’s tax framework, the reforms in order to consolidate tax structures, unify revenue collection,promote economic development,and provide for price transparency and monitoring of publication costs and fees.”

“The greatest news is that the bills seek to offer a clear and concise legal framework for all taxes and reducing disputes, thus we urge the National Assembly to pass it without delay,” the statement added.