The House of Representatives has called for the immediate suspension of new tax initiatives that disproportionately affect low-income earners until a comprehensive review is conducted. This decision followed the adoption of a motion of urgent national importance, moved by Hon. Kingsley Chinda and five others during Thursday’s plenary session.
Hon. Chinda highlighted the country’s rising inflation, unemployment, and cost of living, stressing that the imposition of multiple taxes and levies only worsens the financial strain on citizens, especially those struggling to meet basic needs like food, healthcare, housing, and education.
He argued that while taxation is essential for revenue generation, the government must strike a balance between this and the economic welfare of the masses. He further suggested alternative revenue strategies, including expanding the tax base, reducing government waste, and curbing corruption to prevent overburdening citizens with unnecessary taxes on essential goods and services.
The House urged the Federal Government and relevant authorities to review tax policies to eliminate redundant taxes, prevent double taxation, and consider alternative revenue generation measures. It mandated its Committees on Finance and the Federal Inland Revenue Service (FIRS) to review tax laws within three weeks and provide recommendations.
