House of Reps okay bill on Tax Crimes Commission

The House of Representatives on Wednesday passed through second reading a bill to establish the National Inspector General for Tax Crimes Commission.

The Commission, when established, will address revenue leakages emanating from non-payment and under payment of taxes, irregularities in the assessment, reporting and remittances of taxes.

The agency will also prevent and combat tax-related crimes, plug all leakages in the tax administration system and protect the rights of tax payers.

The bill is sponsored by the House spokesman, Hon. Benjamin Okezie Kalu (APC, Abia).

Leading debate on the bill, Kalu said the bill focuses on the supervision and oversight of efficient, fair and appropriate tax system, expansion of the tax net.

He said: “It is a pointer to how far a nation can ensure her growth and development. While taxation is the most important means of generating public revenue, it is worthy of note that nations that strive to develop aim at putting in place a fair, just, efficient and simplified tax administration system, which builds confidence amongst the citizens and as well motivates and encourages citizens to pay their taxes.” (New Telegraph)