Tinubu Government Proposes Ban On Tax-Evading Politicians From Contesting Elections

Tinubu Government Proposes Ban On Tax-Evading Politicians From Contesting Elections

The administration led by Bola Tinubu is considering a measure to prevent politicians guilty of tax evasion from running for elective offices in Nigeria. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, revealed this during a recent strategic retreat for staff of the Joint Tax Board……READ ALSO CBN Removes Report On Alleged ₦3.8 Trillion Loan From Tinubu Government

Oyedele mentioned that the Executive plans to present a bill to the National Assembly soon to formalize this proposal. Additionally, he disclosed the government’s intention to establish a National Ammission (NIPC) reported that approximately 107 companies benefited from the federal government’s tax exemption under the Pioneer Status Incentive (PSI) scheme in the fourth quarter of 2023. This initiative aims to spur economic growth by incentivizing investments across various sectors.

Under the PSI, eligible industries enjoy a three-year exemption from corporate income tax, with the possibility of extension for one or two additional years. The NIPC’s latest report highlights a notable increase in beneficiaries compared to previous quarters, signaling the positive impact of the tax holiday on Nigeria’s economy.

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