December 11, (THEWILL) – The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has refuted reports that it is opposed to the President Bola Tinubu’s Tax Reform Bills currently before the National Assembly for consideration.
A earlier report by Economic Confidential said that the RMAFC rejected among others, the principle of derivation over the existing system of Value Added Tax (VAT) in the proposed tax legislation. Citing a nine-page memorandum signed by its chairman, Mohammed Bello Shehu, the report said the RMAFC emphasised it was constitutionally designated as the final authority on matters of revenue allocation.
Clarifying the position of the Commission on Tuesday, in Abuja, Shehu dismissed the reports as malicious false news. He reaffirmed the support of the RMAFC to the four tax reform bills.
Shehu, who confirmed the Commission had submitted a comprehensive memorandum outlining its position, said the RMAFC’s stance aligns with both global best practices and Tinubu’s vision for a fairer and more sustainable fiscal framework for Nigeria.
“We applaud President Tinubu’s strong commitment to repositioning Nigeria’s revenue base and his bold initiatives to address the country’s fiscal challenges. The proposed tax reform bills are a significant step towards integrating untapped revenue sources, enhancing Nigeria’s revenue-to-GDP ratio, and positioning the country favourably among nations with high fiscal performance”, he said.
Shehu also disclosed that the Commission has beennin close collaboration with the National Assembly to ensure the bills are robust and effective, addressing issues such as tax evasion and promoting fiscal fairness.
He charged the media on accurate information to avoid undermining the nation’s ongoing fiscal reforms.
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