Trade Union Congress (TUC) President Festus Osifo has urged President Tinubu to review the annual tax exemption limit for workers in his new tax reform Bill, presented to the National AssemblyOsifo made this call in a trending interview on Thursday amid controversy surrounding the tax bill and stiff opposition to the proposed legislation from northern leadersWhile backing the tax reform, Osifo urged that certain clauses in the Bill, particularly the tax exemption limit should be reviewed to better benefit low-income earners
Henzodaily.ng journalist Esther Odili has over two years of experience covering political parties and movements.
Trade Union Congress (TUC) President Festus Osifo, on Thursday, December 5, backed President Bola Ahmed Tinubu’s new tax reform Bill, presented to the National Assembly.
Labour makes key demand from Tinubu as it backed new tax bill.
Photo credit: Nigeria Labour Congress HQ, Asiwaju Bola Ahmed Tinubu
Source: Facebook
Labour calls for higher tax exemption limit
Osifo spoke on behalf of the TUC and the Nigeria Labour Congress (NLC) when he appeared on the Thursday edition of Channels TV Politics Today.
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Speaking on behalf of the TUC and the NLC, Osifo recommended raising the annual tax exemption limit from N800,000 to between N2.5 million and N3 million, arguing that the current limit is too low for workers, especially those earning the new minimum wage.
Speaking on behalf of the organised labour, Osifo said:
“Reforms are not bad but some clauses in the Tax Reform Bills should be reviewed.”
“If you look at the bill, there is a provision that anybody earning N800,000 and below per annum will be exempted from paying personal income tax. But our position on that is that, that band is too small.
“For somebody earning N70,000 minimum wage, if you multiply N70,000 by 12, it gives you N840,000, it means somebody earning minimum wage is not exempted from paying tax.
“Our first position on that is that the federal government should push this much more forward. The N800,000 is too small, expand it to N2.5 million – N3 million per annum.”
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Watch Osifo’s interview below:
Read more about the Tax Reform Bill here:
Lawmaker suggests Hausa translation for tax reform bill
Meanwhile, Henzodaily.ng previously reported that Honourable Abejide Leke stated that the north will benefit from President Tinubu’s new tax reform bill.
In an interview, Leke stated that the opposition against the bill from the northern region was politically motivated and an attempt to influence public opinion ahead of the 2027 elections.
The Kogi lawmaker suggested that the bill should be translated into Hausa to better address concerns in the northern region, but Nigerians have reacted to his suggestion.
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Source: Henzodaily.ng