The House of Representatives has moved forward a bill for the establishment of a National Tax Crimes and Oversight Commission, aiming to address revenue leakages arising from non-payment and underpayment of taxes.
Sponsored by Deputy Speaker Benjamin Okezie Kalu and eight co-sponsors, the bill targets irregularities in tax assessment, reporting, and remittances, while also combating tax-related crimes.
During the debate on the bill, co-sponsor Felix Uche Nweke emphasized the importance of accurately determining the amount of taxes to be paid in accordance with existing tax laws. He underscored that revenue leakages often occur due to collusion between unscrupulous staff, tax agents, and citizens, leading to under-assessment of taxpayers and subsequent underpayment of taxes.
The establishment of the National Tax Crimes and Oversight Commission aims to address these challenges effectively while safeguarding taxpayers’ rights.
Source: Daily Trust