“Tax Reform To Boost Revenue, Investment” — Deputy Speaker Kalu Explains New Bills To British Lords
Deputy Speaker of the House of Representatives, Benjamin Kalu, has said the major aim of the tax reform bills is to raise the revenue profile of the country and also support investments both locally and internationally.
He disclosed this at a meeting on UK -Nigeria Strategic Dialogue with the Deputy Leader, House of Lords and United Kingdom Minister of African Affairs, Lord Collins of Highbury on Wednesday in London.
Kalu, who said Nigeria was the right destination for investments, called on the UK business and the international community as a whole to increase their investment ratio in the country.
He said: “Our tax laws have been obsolete. So, what we are trying to do now is to streamline them in line with global best practices.
“The aim is to drive revenue and also support some of the investors who have irregular tax laws affecting their revenue, streamlining them to know what they are paying for. Not multiple taxation on the same issues.”
Highlighting the legislative agenda of the 10th House of Representatives, Kalu said the parliament has prioritised national security, law reforms, economic growth and development, social sector reforms and development, inclusion and open parliament, foreign policy, climate change and environmental sustainability for improvement.
According to him, these included increased women participation in politics with creation of special seats to increase the number of women in Nigeria’s National and State Houses of Assembly; local government reforms to improve the autonomy of local government councils and their ability to deliver on development; state policing to address localided security challenges in Nigeria; improved human rights to strengthen Nigeria’s compliance with international human rights standards by empowering relevant Committees of the House to exercise more oversight of the police and our security services; supporting reforms to improve the judiciary and enable them to perform better.
