- ICAN Applauds Bold Tax Reforms Signed Into Law by Tinubu
- Yahaya praised the Tinubu administration for initiating a thorough and innovative review of long outdated tax laws
- “These reforms will bring significant relief to low-income earners and create a more efficient and inclusive tax system. The President deserves commendation for his decisive leadership.”
The Institute of Chartered Accountants of Nigeria (ICAN) on Saturday commended President Bola Tinubu for enacting four comprehensive tax reform laws, Eko Hot Blog reports.
ICAN’s 61st President, Malam Haruna Yahaya, described the move as a bold and timely effort to modernize Nigeria’s fiscal and revenue systems.
He praised the Tinubu administration for initiating a thorough and innovative review of long outdated tax laws, some of which had remained unchanged for over fifty years.
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Yahaya gave this commendation during the investiture of Sani Danbaba as the fifth Chairman of ICAN Gwagwalada and District Society, held in Gwagwalada, Federal Capital Territory.
Represented by Matthias Dafur, a council member of the institute, Yahaya said, “These reforms will bring significant relief to low-income earners and create a more efficient and inclusive tax system. The President deserves commendation for his decisive leadership.”
Eko Hot Blog earlier reported that President Bola Tinubu signed four key tax reform bills into law during a ceremony held on Thursday at the Aso Rock Presidential Villa in Abuja.
The signed bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
These bills, passed by the National Assembly after wide consultations with major stakeholders, are designed to simplify Nigeria’s tax system, boost revenue generation, and ease tax compliance,especially for small and medium scale enterprises.
The event also featured the formal inauguration of the Executive Committee of the Gwagwalada District Society. The newly appointed chairman, Sani Danbaba, pledged to focus on supporting micro, small, and medium enterprises within the community.
“Our focus will be to empower local entrepreneurs and add value to their operations. Over 60% of Nigeria’s economic activities are driven by MSMEs, and we must support their growth,” Danbaba stated.
Outgoing district chairman, Sosanwo Akinwunmi, congratulated the new executive team and encouraged them to build on the district’s past achievements and elevate the society’s impact.
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