President Bola Tinubu has said that he does not plan to pull back the tax reform initiated by his administration.
Tinubu told journalists in Lagos on Monday in his first media chat as president that he plans to protect the poor with his tax reform.
According to him, Nigeria cannot continue to use old methods in today’s economy.
“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,” he said.
“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.”
Asked if he was ready to make some concessions on the proposed value-added tax (VAT) sharing model, the president said he does not mind cutting edges.
“Tax matters are subject of debates, reviews and negotiations until you reach a consensus. I don’t mind cutting edges. I will,” the president said.
The tax reforms and VAT have been vehemently opposed by northern leaders.
