Public Affairs Analyst Dr. Afeez Suleiman Tosin has welcomed aspects of the new tax reforms recently signed into law by President Bola Tinubu but expressed other concerns.
Speaking today during the News Panorama segment of Royal FM Ilorin’s Morning Mix programme, Dr. Tosin acknowledged the gains in the bills, especially the exemption of low-income earners whose annual salary falls below 800 thousand Naira from personal income tax.
He said this would bring relief to workers earning as low as 40 thousand Naira monthly, who were previously still taxed.
He also noted that small businesses with a turnover under 25 million Naira could benefit from company income tax exemptions, but urged the government to consider expanding the exemption net to cover citizens earning below 2 million Naira, given the current economic hardships.
While commending the reforms on paper, Dr. Tosin expressed skepticism about their actual implementation, and he urged the government to follow through with genuine relief measures for citizens.
