The Chairman of the Presidential Fiscal and Tax Reforms Committee, Taiwo Oyedele, has revealed that the country’s poorest citizens have been shouldering the tax burden, emphasizing the need for a tax break to alleviate their suffering.
In an interview on Channels TV’s Politics Today, Oyedele stressed that the current tax base is too small to make a significant impact and that focusing solely on increasing taxes for existing taxpayers is not the solution.
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He highlighted the need to reassess the tax system to relieve vulnerable individuals and small businesses of this burden.
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“The concept of revenue transformation should go beyond celebrating incremental progress. We need to look at the system again to take the burden away from vulnerable people, small businesses, and let the middle class, the elites, and those who can afford pay in line with the principle of progressive taxation,” Oyedele said.
He noted that the poor have been paying taxes, and it is time for them to take a break. Oyedele emphasized the importance of reassessing the tax system to ensure that those who can afford pay their fair share.
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