The Minister of Finance, Mrs Zainab Ahmed, has said there might be introduction of new tariffs and levies in 2022, as the economy was now on a recovery path.

Ahmed made this known while addressing stakeholders at a public hearing on the 2021 Finance Bill organsied by the House of Representatives Committee on Finance on Monday in Abuja.

She said that a couple of reforms and amendments had been recommended in the draft 2021 Finance amendment bill, saying that more will be introduced in the middle of 2022.

The minister said that modest changes had been proposed, but that more fiscal reforms were still in view as the ministry could not take all the proposals collected from stakeholders.

“Our aspiration is to do a midterm review with a possibility of another Finance Bill in mid-year 2022 to bring in more amendments,” she said

The minister said that there are ongoing legal cases in court against the Federal Government on VAT and Stamp Duties, which was why the ministry stayed off those areas.

She, however, expressed hope that by mid-2022, the cases might have been dispensed with and then reforms in those areas could be proposed for parliament to consider.

Ahmed said that there might be need to revisit the antiquated Stamp Duties and Capital Gains Tax for holistic reform by the parliament.

“We prepared this draft bill along five reform areas, the first domestic revenue mobilisation, the second is tax administration and legislative drafting, third is International taxation, fourth is financial sector reforms and tax equity and fifth is improving public financial management reform.

“The provision in the draft bill is proposing to amend the Capital Gains Tax Act, Company Income Tax, FIRS Establishment Act, Personal Income Tax, Stamp Duties Act and Tertiary Education Act, Value Added Tax, Insurance Police Trust Fund and the Fiscal Responsibility Act.
“This is to amend the Police Trust Fund Act and the Nigerian Trust Fund Acts, the purpose is to empower the FIRS to collect the Nigerian trust fund levies on companies on behalf of the fund itself.

“Currently, because there is no such provision, the FIRS is unable to start collecting on behalf of the fund.

“Also, it is to streamline the tax and the levy collection from the Nigerian companies in line with Mr. President’s administration ease of doing business policy.

“So we do not have NASENI going out to collect that tax, the FIRS will collect on their behalf during their collection process and it will be passed through to them,’’ she said.

Ahmed said that the bill was a product of the President Muhmmadu Buhari’s commitment made while presenting the 2022 budget to the joint session of the National Assembly on October 8, 2021.

He said that the ministry had worked with relevant stakeholders and Fiscal Policy Reform Committee to draft the 2021 Finance bill.

Speaking, Speaker Femi Gbajabiamila, said that the 2021 Finance Bill seeks to introduce strategic and broadminded, positive reforms that will engender best practices and guarantee interest of the investing public and businesses.

He said that the bill seeks to statutorily check borrowing by local, states and Federal Government, enhance transparency and accountability in the administration in various strata of tax and public revenue generation.


https://www.vanguardngr.com/2021/12/expect-new-taxes-in-2022-says-finance-minister/

It's a welcome development

I will vote Buhari again in 2023

e shock una abi??

Toh

Y

With the present situation in yorubaland.. acute poverty and chronic hunger.. next year will obviously be suicide matters .

Pray Nigerians to survive This Apc government..
because any attempted rigging in 2023 will see Nigeria burn to ashes ..


People go just revolt .. no be planned or person lead am.. e go be reflex.. e go just happen
Apc is evil.

No problem so far zombies would be paying the tax and Tunde flower leprous hand won't take it to his oga


Kudos, optimism for 2022 already

Na God go punish you and your travellers for this effort to annihilate the poor of the poorest for this country.

Account clerk wey dem give country Finance ministry to take do IT.

The economy on recovery path?

God please, can you fast forward this world to 2023?

By the time APC is done with you Nigerians , una go smell una black yansh

Only yorubas and igbos will hate this wonderful news



We the youths are solidly behind our darling president


North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023

Ecstasy154:
The Minister of Finance, Mrs Zainab Ahmed, has said there might be introduction of new tariffs and levies in 2022, as the economy was now on a recovery path.

Ahmed made this known while addressing stakeholders at a public hearing on the 2021 Finance Bill organsied by the House of Representatives Committee on Finance on Monday in Abuja.

She said that a couple of reforms and amendments had been recommended in the draft 2021 Finance amendment bill, saying that more will be introduced in the middle of 2022.

The minister said that modest changes had been proposed, but that more fiscal reforms were still in view as the ministry could not take all the proposals collected from stakeholders.

“Our aspiration is to do a midterm review with a possibility of another Finance Bill in mid-year 2022 to bring in more amendments,” she said

The minister said that there are ongoing legal cases in court against the Federal Government on VAT and Stamp Duties, which was why the ministry stayed off those areas.

She, however, expressed hope that by mid-2022, the cases might have been dispensed with and then reforms in those areas could be proposed for parliament to consider.

Ahmed said that there might be need to revisit the antiquated Stamp Duties and Capital Gains Tax for holistic reform by the parliament.

“We prepared this draft bill along five reform areas, the first domestic revenue mobilisation, the second is tax administration and legislative drafting, third is International taxation, fourth is financial sector reforms and tax equity and fifth is improving public financial management reform.

“The provision in the draft bill is proposing to amend the Capital Gains Tax Act, Company Income Tax, FIRS Establishment Act, Personal Income Tax, Stamp Duties Act and Tertiary Education Act, Value Added Tax, Insurance Police Trust Fund and the Fiscal Responsibility Act.
“This is to amend the Police Trust Fund Act and the Nigerian Trust Fund Acts, the purpose is to empower the FIRS to collect the Nigerian trust fund levies on companies on behalf of the fund itself.

“Currently, because there is no such provision, the FIRS is unable to start collecting on behalf of the fund.

“Also, it is to streamline the tax and the levy collection from the Nigerian companies in line with Mr. President’s administration ease of doing business policy.

“So we do not have NASENI going out to collect that tax, the FIRS will collect on their behalf during their collection process and it will be passed through to them,’’ she said.

Ahmed said that the bill was a product of the President Muhmmadu Buhari’s commitment made while presenting the 2022 budget to the joint session of the National Assembly on October 8, 2021.

He said that the ministry had worked with relevant stakeholders and Fiscal Policy Reform Committee to draft the 2021 Finance bill.

Speaking, Speaker Femi Gbajabiamila, said that the 2021 Finance Bill seeks to introduce strategic and broadminded, positive reforms that will engender best practices and guarantee interest of the investing public and businesses.

He said that the bill seeks to statutorily check borrowing by local, states and Federal Government, enhance transparency and accountability in the administration in various strata of tax and public revenue generation.


https://www.vanguardngr.com/2021/12/expect-new-taxes-in-2022-says-finance-minister/

Dem wan introduces more taxes?
Bubu go kill Nigeria. Be ready for massive massive unrest.

And zoogerians will comply like zmbs.
The woman has been having a field day at that ministry inspite of all her excesses.
Okonjo iweala did her best but all fatais kabirus mufutaus ajanaku all coneheaded structures kept attacking her for nothing. Even after leaving office,they still kept attacking her..her appointment@ the world Bank put them to great shame..... Now bisi akandes book have exposed them in their evil attack and blame against GEJ in their phantom marginalisation. Evil people

Useless Almajari Olosho. Good for nothing dummy

DubaiLandLord2:
Y

See person.... nothing to say because Igbos wasn't mentioned.

BlackfireX:
Only yorubas and igbos will hate this wonderful news



We the youths are solidly behind our darling president


North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023 North2023

Am Igbo and I support uncle Bubu.
Bubu till 2030

I laugh in change plus next level language

The thief cometh not, but for to steal, and to kill, and to destroy. Nigerians are in for a long ride.

[s]

PrinceOfLagos:
By the time APC is done with you Nigerians , una go smell una black yansh

[/s]

[s]

gambia:
The thief cometh not, but for to steal, and to kill, and to destroy. Nigerians are in for a long ride.

[/s]

[s]

StreetFight:
Useless Almajari Olosho. Good for nothing dummy

[/s]

[s]

AfonjaConehead:
And zoogerians will comply like zmbs.
The woman has been having a field day at that ministry inspite of all her excesses.
Okonjo iweala did her best but all fatais kabirus mufutaus ajanaku all coneheaded structures kept attacking her for nothing. Even after leaving office,they still kept attacking her..her appointment@ the world Bank put them to great shame..... Now bisi akandes book have exposed them in their evil attack and blame against GEJ in their phantom marginalisation. Evil people

[/s]

[s]

ogododo:


Dem wan introduces more taxes?
Bubu go kill Nigeria. Be ready for massive massive unrest.

[/s]

[s]

daddytime:
Na God go punish you and your travellers for this effort to annihilate the poor of the poorest for this country.

Account clerk wey dem give country Finance ministry to take do IT.

[/s]

[s]

dijas:
please, can you fast forward this world to 2023?

[/s]

[s]

FarahAideed:
The economy on recovery path?

[/s]

LordviccoDaGuru:
[s][/s]

Dem swear for you?

God save your people come 2022. Subsidy will be removed then the poor masses will still be taxed more.

This minister should just keep quiet. She's done nothing since Adeosun left.

In a normal clime, Ahmed and Emefiele would have been fired since; now they've finally destroyed the Naira and the economy.

[quote author=LordviccoDaGuru post=108464572]

[s][/s]It's a welcome development

I will vote Buhari again in 2023

e shock una abi??[s][/s]

LordviccoDaGuru:


[s][/s]It's a welcome development

I will vote Buhari again in 2023

e shock una abi??

[s][/s]