By Linus Aleke, Abuja
The Speaker of the House of Representatives, Abbas Tajudeen, yesterday said that the 10th House will prioritize tax reforms, to legislatively address the current economic challenges facing Nigeria.
Special Adviser on Media and Publicity to the Speaker, Musa Abdullahi Krishi, in a statement, said, the 10th House had already captured the reform in its much-awaited Legislative Agenda.
Speaker Abbas made this disclosure at the opening of a two-day retreat for members of the Senate on fiscal policy and tax reforms in Uyo, Akwa Ibom State.
He said, “Over the years, the National Assembly has responded proactively to these issues and promoted economic reforms emphasising ease of doing business.
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“We in the 10th House of Representatives intend to work with the Executive and stakeholders to improve the coherence of our tax system, both in terms of administration and operation.
“Accordingly, the Fourth Legislative Priority in our Legislative Agenda is Economic Restructuring. It captures our commitment to supporting economic diversification to reduce dependence on oil and increase development in other sectors, including mineral resource mining, manufacturing, agro-processing, textile, tourism, technology, and general services”.
The Speaker added that the 10th House would use legislative measures to provide incentives on tax breaks to encourage innovations, and for industries that have the potential for job creation and export growth.
