Oyo State Governor Seyi Makinde has declined to sign the Presumptive Tax Bill passed by the state House of Assembly, citing concerns about its potential impact on the poor.
Makinde emphasized his commitment to fighting poverty, not the poor.
The governor rejected the bill, stating that it would impose additional burdens on already struggling citizens amidst the country’s economic challenges. “Anything that will put money in the pocket of the people is what I am interested in… At this time, I’m not interested in any policy that will empty their pockets.”
The Presumptive Tax Bill aimed to increase Internally Generated Revenue by imposing taxes on various businesses and individuals without financial records. The bill outlined rates for enterprises such as artists, barbers, carpenters, and photographers.
Makinde praised the Assembly’s initiative but chose not to implement the bill for now. The bill stipulated penalties for non-payment and rebates for timely filing.
