Taiwo Oyedele, Chairman of the Presidential Task Force on Fiscal Policy and Tax Reforms, has announced that the “Withholding Tax Regulations 2024” has been gazetted and will be published today.
Speaking at Channels TV’s Independence Day program, Oyedele acknowledged that “some of the processes within government are very slow” but expressed optimism that reforms will “make things easier” in the future.
He shared what he called “good news” that the new regulation provides “a lot of relief not just for manufacturers, but also every other business in terms of taking away some of the burdens of funding their working capital”.
Oyedele also revealed that the Economic Stabilisation Bill has been approved by the Federal Executive Council and will soon be presented to the National Assembly.
The 2024 Withholding Tax Regulations, initially announced by Finance Minister Wale Edun on July 1, is part of President Tinubu’s economic reforms and aims to improve tax collection efficiency by deducting tax directly at source.
Comment, Like 👍, share this article, and Follow us on our social media handles.
WhatsApp Channel
Telegram Channel
