National Telescope national telescope newspaper
By Ekpenyong Emmanuel
Senator Ali Ndume has sounded a warning about the potential unintended consequences of the proposed tax reform bills, saying they could have a devastating impact on low-income Nigerians. According to Ndume, the bills, which aim to increase tax revenue, could end up hurting the very people they are intended to help.
Ndume, who represents Borno South, expressed his concerns in a statement released over the weekend. He argued that the tax reforms, as currently proposed, would disproportionately affect low- and middle-income Nigerians, who are already struggling to make ends meet.
“The tax reform bills, as they stand, will only serve to further burden low-income Nigerians,” Ndume said. “The increases in tax rates and the expansion of the tax net will mean that those who can least afford it will be forced to pay more. This is not only unfair, but it is also bad economics.”
Ndume pointed out that the proposed tax reforms would lead to a decrease in disposable income for low-income Nigerians, which would have a ripple effect on the entire economy. He argued that this would lead to reduced consumer spending, lower economic growth, and increased poverty.
The senator also expressed concerns about the timing of the proposed tax reforms, saying that they come at a time when many Nigerians are already struggling to cope with the economic fallout of the COVID-19 pandemic.
“We need to be careful about the timing of these reforms,” Ndume said. “We cannot afford to impose additional burdens on low-income Nigerians at a time when they are already struggling to survive. We need to prioritize their needs and ensure that any tax reforms we implement are fair, equitable, and do not harm the most vulnerable members of our society.”
Ndume called on the government to reconsider the proposed tax reforms and to engage in broader consultations with stakeholders to ensure that any changes to the tax system are fair and equitable. He also urged the government to prioritize governance reforms, saying that this would have a more significant impact on reducing corruption and increasing revenue than the proposed tax reforms
