As the country gets ready to commence the new tax system next month, chairman of the newly inaugurated National Tax Policy Implementation Committee, Mr. Joseph Tegbe, has said the new tax regime will be undertaken in a responsible and humane manner.

He spoke in Abuja during the weekend shortly after the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, inaugurated the committee.

Tegbe said that his team would consult widely with various segments of the society, including business groups and professional bodies in the implementation of the laws.

He assured that the implementation would not harm any business and that his committee would ensure that businesses were incentivised to blossom under the new tax administration, as well as, attract more local and foreign investors.

Tegbe stated: “Let me say that it’s extremely important to emphasize that the work ahead is huge and is critical for our national progress. “The laws touch the foundations of tax administration, level the movement of federal and state interpretation, and ease of doing business.

He provided further reassurance, stating: “We want to reassure Nigerians and investors that implementation of this act will be fair, will be transparent, and we will do it with human face. “There have been concerns, and I will touch on that. “There will be no surprises. Some of those areas of concerns will be addressed. The systems that we are building will respect legitimate expectations, reduce uncertainty, and protect the most vulnerable.

Regarding stakeholder involvement, Tegbe said: “The committee inaugurated today has been set up to ensure broad and meaningful consultation and collaboration. We do believe it is extremely important. We want to ensure that all stakeholders are aware and have fair buy-in and ownership of whatever we implement. “So we will meet widely, both businesses, subnational governments, civil societies, and also professional bodies.”

Tegbe also said that in implementing the tax laws, the government would not encroach on personal bank accounts. He stated: “The government has no business irresponsibly encroaching on personal bank accounts of citizens or its residents in Nigeria. The government is not going to be encroaching on their personal accounts. Nigerians are not under probe or under investigation.”

He assured that areas of concern such as the Capital Gains Tax would be looked into. According to him, “There are areas of concerns that have been expressed. This government is a humane government, and this government will work hard with stakeholders to ensure that areas that need further clarification and further resolutions are addressed. One of those areas is Capital Gains Tax (CGT ).” He concluded: “We will ensure that we are fully engaged and ensure that whatever resolutions are done actually takes into consideration the concerns that have been expressed”.