Reform Bills: Labour Demands Review of Tax Exemption Limit for Workers from Tinubu
- 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 Assembly
- Osifo made this call in a trending interview on Thursday amid controversy surrounding the tax bill and stiff opposition to the proposed legislation from northern leaders
- While 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
Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.
Trade Congress (TUC) President Festus Osifo, on Thursday, December 5, backed President Bola Ahmed Tinubu's new tax reform bill, presented to the National Assembly.
Source: Facebook
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.
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."
Watch Osifo's interview below:
Read more about the tax reform bill here:
- ASUU mentions danger of Tinubu's Tax Reform Bills on universities
- Tinubu's tax reform bill: Daniel Bwala names 1 thing north trying to push
- Peter Obi comments on tax reform bill
Lawmaker suggests Hausa translation for tax reform bill
Meanwhile, Legit.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.
Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.
Source: Legit.ng
