Governor Seyi Makinde has vetoed the Oyo State Presumptive Tax Bill, 2023, citing the current economic reality and its potential to inflict hardship on residents.
“The people are hungry and angry, and this bill would only worsen their situation,” Makinde said during the groundbreaking ceremony for the upgrade of Samuel Akintola Airport to international standard.
Makinde emphasized his commitment to fighting poverty, not the poor. “Anything that puts money in people’s pockets is what I’m interested in, not policies that empty their pockets.”
The Oyo State House of Assembly passed the bill on Thursday, aiming to increase internally generated revenue through presumptive taxes on various businesses, including:
– Artists and sign writers (N5,000 – N50,000)
– Barbers (N3,000 – N10,000)
– Bricklayers (N10,000 – N30,000)
– Food sellers (N1,000 – N5,000)
The governor commended the assembly’s initiative but deemed the timing inappropriate.
Makinde’s decision prioritizes the welfare of Oyo State residents, reaffirming his commitment to tackling hunger and poverty.
Related Developments:
– Oyo State Government focuses on economic empowerment initiatives
– Governor Makinde’s administration explores alternative revenue sources
Reaction:
Hon. Debo Ogundoyin, Speaker of the Oyo State House of Assembly, was present at the ceremony and acknowledged the governor’s stance.
The vetoed bill aimed to:
– Impose presumptive tax on individuals and entities with unascertained income
– Grant tax rebates to compliant taxpayers
– Penalize defaulters with 10% interest
Makinde’s decision has sparked mixed reactions from stakeholders, with some praising his compassion and others expressing concerns about revenue implications.
