“It’ll reduce poverty,” Experts speak on how tax reforms will better the north

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  • Tinubu’s tax reforms aim to expand revenue, improve infrastructure, and drive growth in Northern Nigeria
  • The reforms promote fair revenue distribution and synergy among federal, state, and local governments
  • Tax exemptions for small businesses will spur entrepreneurship and unlock the norths potential

Tinubu’s tax reform gets hailed by experts
Photo: @officialABATSource: TwitterExpanding revenue streams for the North”The bills are expected to increase government revenue, reduce poverty, and drive economic growth in the north. “For instance, reducing the federal governments VAT share from 15% to 10% while increasing state governments’ share from 50% to 55% will ensure more funds for development projects,” he said. Encouraging synergy among governments “The Joint Revenue Board Establishment Bill seeks to promote fairness in tax administration and equitable revenue distribution.”The exemption of small businesses earning below N50 million from income tax will boost entrepreneurship and innovation in the region. These measures are essential to unlocking the norths economic potential,” Batusan said. “These bills have the potential to drive sustainable development and enhance quality of life in the north,” Prof. Adedimeji concluded.

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