President Bola Tinubu has approved the establishment of a presidential committee on fiscal policy and tax reforms.
The President named Taiwo Oyedele, Fiscal policy partner and Africa tax leader at PriceWaterhouseCoopers (PwC), as the chairman of the committee.
Reported gathered that President Tinubu signed four executive orders, including the suspension of the 5% excise tax on telecommunication services, as well as the excise duties escalation on locally manufactured products.
The Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, announced the development in a statement on Friday.
Alake said the committee will comprise experts from both the private and public sectors and be responsible for various aspects of tax law reform, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.
He said the committee’s primary objective is to enhance revenue collection efficiency, ensure transparent reporting, and promote the effective utilization of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.
Speaking on the committee’s establishment, Special Adviser to the President on Revenue Zacchaeus Adedeji, said Tinubu recognises the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the government and the economy.
