The Secretary of the Joint Tax Board, Mr. Olusegun Adesokan, has reaffirmed the commitment of President Bola Ahmed Tinubu’s administration to reforming the nation’s tax and fiscal landscape, with a focus on enhancing the operations and revenue drive of various tax authorities.<\/p>\n
Speaking during a retreat convened by the Joint Tax Board (JTB) at Serene Hotel in Wuye, Abuja, Adesokan emphasized the imperative of positioning the board to add increasing value to tax administration. The retreat, themed “Encouraging A Culture of Collaboration, Innovation, And Adaptation To Respond To Emerging Challenges While Positively Projecting The Image of JTB,” underscored the pressing need for reforms in tax administration and the pivotal role of the apex tax board in driving these initiatives.<\/p>\n
During the retreat, Adesokan reiterated the need to harmonize the national and subnational entities in Nigeria.<\/p>\n
He further emphasized the importance of training and retraining staff members to navigate the complexities of emerging reforms in the tax and fiscal landscape. Adesokan highlighted the significance of fostering innovation and collaboration with subnational entities to drive effective tax administration and revenue generation while advocating for the total digitalization of tax administration in Nigeria.<\/p>\n
With respect to redigitalization, the Secretary said the board has been engaging the subnationals and their response has been indeed positive, stressing that digitalizing will help in optimizing revenue generation ability.<\/p>\n
“When a state has more revenue, it can provide more health care services, road construction, security for the people, etc. so JTB has been engaging the subnationals and exploring viable alternatives on how they can be given support in bespoke areas,” remarked Adesokan.<\/p>\n
In her address, former JTB Chairman, Mrs. Ifueko Okauru affirmed that JTB has since inception in 1961 empowered by the constitution to oversee company income tax and personal income tax, respectively, stressing that the board is mandated to propose and ensure uniformity and harmony of personal income tax administration as well as advise the three tiers of government on its administration.<\/p>\n
On his part, Mr. Taiwo Oyedele, the Chairman of the Fiscal Policy and Tax Reforms Committee outlined five-pillar initiatives aimed at revitalizing the JTB: Fiscal Management, Revenue Administration (Tax Policy Review and Tax Law Reform), Fiscal Competitiveness, Economic Growth, and Structural, Process, and Personnel enhancements. He expressed confidence that these reforms would enable the JTB to assume greater responsibilities and adapt to evolving challenges, potentially leading to constitutional and structural adaptations.<\/p>\n
As the Tinubu administration prioritizes tax and fiscal reforms, stakeholders anticipate tangible outcomes that will streamline processes, enhance revenue mobilization, and promote economic growt<\/p>\n","protected":false},"excerpt":{"rendered":"
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