The Kebbi State chapter of the Nigerian Youth Alliance against Corruption and Money Laundering (NYACML) has expressed strong opposition to the Tax Reform Bill 2024, presented by President Bola Ahmed Tinubu.
In a press statement released on Sunday in Birnin-Kebbi and signed by the North West Zonal Chairman, Nasiru Turakin Masala, the group described the bill as detrimental to the people and potentially burdensome to state governments.
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The NYACML criticized the proposed amendment to the Value Added Tax (VAT) distribution model, which shifts the focus to a derivation-based system.
The group argued that VAT should be based on where the goods are consumed, not the location of a company’s headquarters or tax office.
According to the statement, this amendment would lead to higher commodity prices, further exacerbating the financial difficulties faced by the masses.
The group firmly rejected the bill, emphasizing that it would increase prices and deepen hardship for Nigerians, particularly the vulnerable segments of society.
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