Senator Seriake Dickson has expressed his support for the tax reform bills proposed by President Bola Tinubu, stating that the bills will pass and “heaven will not fall.”
Dickson, a former Governor of Bayelsa State, made this statement while addressing journalists at the National Assembly on Monday.
The senator drew parallels with the Petroleum Industry Act (PIA), which was passed despite initial opposition. “The PIA was passed.
We wanted 10% which was what Yar’adua proposed. They federal lawmakers reduced it to 3%. Heaven did not fall. This tax reform bills will pass and heavens will not fall,” he said.
Dickson emphasized that the tax reform bills are a proposed law that will go through the normal legislative process.
“The Senate has passed the bills for second reading. Public hearing will take place and people should get ready to present their positions,” he explained.
One of the key reasons Dickson is supporting the tax reform bills is the sharing formula for Value-Added Tax (VAT).
Currently, taxes from Bayelsa State are paid to Lagos State, a situation Dickson wants to change.
“Right now, taxes from Bayelsa State are paid to Lagos State and I don’t want that to continue. When there is consumption of any goods or services from any state it should be calculated and paid to that state,” he argued.
Dickson acknowledged that some states may feel they will earn less with the new sharing formula, but he encouraged them to raise their concerns and provide statistics.
“I know there are states that are feeling that when they apply the new sharing formula, they will earn less. It’s for them to raise those issues and bring the statistics. I don’t go by sentiments. I go by what is right and in the national interest,” he said.
The tax reform bills have passed the second reading in the Senate and have been referred to the Senate Committee on Finance for further legislative action. A public hearing is expected to take place, where stakeholders will have the opportunity to present their positions on the bills.
