Stakeholders Brainstorm On New Tax Reforms In Kano

The Islamic Forum of Nigeria, in collaboration with the Almubarak WAQF Foundation and the Financial Literacy Ambassadors of Nigeria, has organised a sensitisation programme to the new tax reforms.

The move was aimed at deepening public understanding of recent fiscal policies introduced by the Federal Government.

The News Agency of Nigeria ( NAN) reports that the event, held at the Islamic Forum, Farm Centre, Kano,on Saturday, attracted participants from the business community, financial institutions and government agencies.

The Executive Secretary Islamic Furum of Nigeria , Alhaji Dalhatu Gwarzo, explained that the programme aimed to inform the citizens, especially business owners, about the policy direction of government.

According to Gwarzo, enhancing revenue generation is vital to national development, and proper understanding and compliance with tax policies would contribute significantly to economic stability.

The Guest Speaker, Saleh Kwaru, stated that the Federal Government had reviewed the existing tax laws and introduced reforms aimed at fairness, efficiency and sustainability.

Kwaru explained that taxes would be deducted primarily from business profits, while the civil servants would continue to pay taxes through salary deductions.

According to Gwarzo, about 70 different types of taxes are undergoing reforms to streamline the system and reduce multiple taxation.

The reforms, he said, were designed to be progressive, exempting the poor, reducing the burden on the middle class, and increasing taxes on the wealthy.

Financial experts provided detailed explanations on the reforms, highlighting expected benefits, including improved revenue generation, reduced tax evasion and a more transparent fiscal system.

NAN also reports that the interactive session addressed questions from participants, clarifying grey areas and concerns.

Attendees included members of the Kano business community, academia, revenue stakeholders, and representatives of banks and financial institutions.

The Managing Director of NAN, Malam Ali M. Ali was represented at the epochal event by Alhaii Aminu Garko, the Kano State Editor of the agency