Osun State Governor, Ademola Adeleke, has assured residents that his administrations tax reform policy is not designed to impose additional hardship on citizens but to ensure fairness, balance and sustainable revenue generation. The governor gave the assurance at a three-day stakeholders engagement on the implementation of the new tax law in Osun State, held on Tuesday at the Centre for Black Culture, Osogbo. Adeleke, who was represented by the Secretary to the State Government, Teslim Igbalaye, acknowledged that taxation remains a major source of government revenue but said the ongoing reforms are structured to ease the burden on the populace while improving efficiency. He explained that the reforms are aimed at expanding the tax net by bringing more operators in the informal sector into compliance, thereby increasing funds available for social services and infrastructure development. This retreat is timely and necessary as the new tax Acts are not designed to place undue burden on citizens or businesses. Rather, they are intended to promote fairness, expand the tax net, improve compliance and strengthen Osun States revenue base through transparency, efficiency and digital innovation, Adeleke said. He added that the policy framework is people-oriented, pro-business and investor-friendly, with special consideration for small and medium-scale enterprises that play a critical role in economic growth and job creation. Our approach to tax reform is deliberate and people-centred. The new framework recognises the importance of SMEs and provides a gradual, fair and supportive pathway for integrating the informal sector into the formal economy, he said. The governor further noted that safeguards have been put in place to protect low-income earners through reliefs, exemptions and reduced tax rates where applicable. Our goal is balance. We want to grow revenue without harming livelihoods and build compliance without eroding public trust, he added. The post Well not burden our people with new tax law Gov Adeleke appeared first on Linda Ikeji Blog. Weâll not burden our people with new tax law â Gov Adeleke
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Osun State Governor, Ademola Adeleke, has assured residents that his administrations tax reform policy is not designed to impose additional hardship on citizens but to ensure fairness, balance and sustainable revenue generation. The governor gave the assurance at a three-day stakeholders engagement on the implementation of the new tax law in Osun State, held on Tuesday at the Centre for Black Culture, Osogbo. Adeleke, who was represented by the Secretary to the State Government, Teslim Igbalaye, acknowledged that taxation remains a major source of government revenue but said the ongoing reforms are structured to ease the burden on the populace while improving efficiency. He explained that the reforms are aimed at expanding the tax net by bringing more operators in the informal sector into compliance, thereby increasing funds available for social services and infrastructure development. This retreat is timely and necessary as the new tax Acts are not designed to place undue burden on citizens or businesses. Rather, they are intended to promote fairness, expand the tax net, improve compliance and strengthen Osun States revenue base through transparency, efficiency and digital innovation, Adeleke said. He added that the policy framework is people-oriented, pro-business and investor-friendly, with special consideration for small and medium-scale enterprises that play a critical role in economic growth and job creation. Our approach to tax reform is deliberate and people-centred. The new framework recognises the importance of SMEs and provides a gradual, fair and supportive pathway for integrating the informal sector into the formal economy, he said. The governor further noted that safeguards have been put in place to protect low-income earners through reliefs, exemptions and reduced tax rates where applicable. Our goal is balance. We want to grow revenue without harming livelihoods and build compliance without eroding public trust, he added. The post Well not burden our people with new tax law Gov Adeleke appeared first on Linda Ikeji Blog. _1770757719.jpeg)
