Tue, December 3, 2024

[ Tue, Dec 03rd 2024 ]: Brian Stokes

Tax Reform Bill: Why Tinubu Should Adjust VAT Component, Islamic Cleric Gumi Explains

[ Tue, Dec 03rd 2024 ]: Brian Stokes

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[ Tue, Dec 03rd 2024 ]: Brian Stokes

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Tax Reform Bill: Why Tinubu Should Adjust VAT Component, Islamic Cleric Gumi Explains

As northern governors criticize the proposed Tax Reforms Bill, Sheikh Gumi has backed the proposed legislation and urged President Tinubu to adjust the VAT component
The article from Legit.ng discusses the concerns raised by Islamic cleric Sheikh Ahmad Gumi regarding the proposed tax reform bill in Nigeria. Gumi criticized the bill, particularly the Value Added Tax (VAT) component, arguing that it would disproportionately burden the poor. He suggested that President Tinubu should adjust the VAT to make it more equitable. Gumi emphasized that while the government needs revenue, the tax system should not exacerbate the economic hardship faced by the less privileged. He also called for a broader consultation with Islamic scholars and other stakeholders to ensure the tax reforms align with the principles of justice and fairness in Islamic law. Additionally, Gumi highlighted the need for the government to address corruption and inefficiency in revenue collection rather than increasing taxes.

Read the Full legit Article at:
[ https://www.legit.ng/nigeria/1628637-tax-reform-bill-tinubu-adjust-vat-component-islamic-cleric-gumi-explains/ ]