After receiving briefing on the Tax Reform Bill, the National Economic Council (NEC) yesterday urged its withdrawal from the National Assembly to allow for wider consultations.
The Executive Bill designed to comprehensively reform the tax system, was last week sent to the federal lawmakers for consideration and passage.
But governors and traditional rulers from the North, kicked against the portion of Value Added Tax (VAT), which in their estimation is skewed against the North.
Their position sparked controversy around the Bill despite Federal Government insistence that it is fair to all. They rejected the proposed derivation-based model for VAT distribution.
At yesterday’s NEC meeting chaired by Vice President Kashim Shettima, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, explained the motivation and merits of the bill to the Council.
Oyo State Governor Seyi Makinde, who made known the resolutions of the meeting, said NEC members resolved to push for consensus building.
He said the NEC also requested for more time to enable Nigerians gain a fuller understanding of the Bill. Makinde said the withdrawal of the bill would allow room for more consultations and engagement.
