A member of the House of Representatives, Hon. Clement Jimbo, has expressed support for the proposed tax reform bill, stating that it will benefit all states in Nigeria.

According to Jimbo, the current tax system favors Lagos State, but the new bill will decentralize tax collection, allowing states where products are consumed to benefit.

The bill also proposes the inclusion of the digital economy and special tax officers to resolve disputes quickly. Jimbo argued that the bill is straightforward and aims to bring Nigeria’s tax laws in line with current realities.

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He emphasized that the bill will not disenfranchise any state, as it is based on the principle of consumption. For instance, telecom services are consumed in almost every state, but the headquarters of telecom providers are not located in all states.
The bill will ensure that states where products are consumed benefit from the tax revenue.

Jimbo also noted that the bill proposes tax incentives for low-income earners and vulnerable working-class individuals. Employees earning N800,000 and below annually will be exempt from personal income tax.

The lawmaker expressed confidence that the bill will scale through, despite ongoing lobbyings. He emphasized that Nigeria needs to elevate its laws to keep pace with current realities and that the bill is a step in the right direction.