SN

Subcommittees

Terms of Reference 

• Provide overall direction for the committee and report to the President

• Set the guiding principles and governance for the committee and subcommittees

•  Review and approve the work of other subcommittees and any variations as may be necessary

• Ensure effective handshake between and among subcommittees

• Press briefings and stakeholder communication

• Oversee and manage key stakeholders engagement e.g. with NASS, NEC, NGF etc

• Facilitate implementation of approved reform measures and other recommendations

• Review and propose changes to the Fiscal Responsibility Act

• Develop a Fiscal Risk Framework for Nigeria including appropriate fiscal targets and limits e.g. debt service to revenue ratio, recurrent to capital expenditure ratios etc

• Measures for sustainable policy design, implementation, and regular reviews including framework for a Fiscal Policy Committee (FPC)

• Recommend optimal fiscal approach to achieve SDGs, Energy transition and greener economy, Multidimensional poverty reduction, etc

• Strategy to enhance subnational collaboration and handshake with monetary and other policies

• Identify fiscal improvements to the budgeting process at federal and subnational level

• Revenue reporting including annual reports by revenue agencies aligned with international best practice

• Measures to drive full tax compliance by MDAs and various tiers of government

• Reforms in ports and customs procedures

• Fiscal and tax measures to make Nigeria an attractive and competitive destination, hub for tech & other startups, R&D & innovation centre, HQ/shared services and remote work location etc

• Measures for effective domestication and implementation of ECOWAS and AfCFTA treaties

• Promoting entrepreneurship and NMSMEs, incentives rationalisation, enabling the capital market etc

• Identify and remove unfair tax provisions, fiscal hurdles and disincentives to inclusive growth/development

• Develop a framework for the establishment of the Office of Tax Ombudsman & Tax Simplification

• Measures to counter multiplicity of taxes, earmarked taxes, levies and charges

• Explore alternative funding models for critical MDAs and regulators that do not involve imposition of taxes & levies on businesses

• Review and update the 2017 National Tax Policy

• Recommend action plans for Nigeria in response to international tax developments including the 2-Pillars Solution, illicit financial flows, etc

• Develop a sustainable policy framework to protect the poor and vulnerable population

• Prescribe suitable policy for the taxation of informal sector and NMSME including measures to tackle informal taxation by non-state actors

• Review and redraft the major tax laws including CITA, PITA, CGTA, VATA, SDA, etc

• Prepare draft Executive Orders and Regulations for proposed reforms and measures that do not require legislative changes

• Recommend Constitutional amendments and changes to strengthen Nigeria’s fiscal federalism

• Advise and facilitate possible translation of the major tax laws into Nigeria’s major local languages

• Harmonisation of revenue agencies and collection functions to enable MDAs and regulators focus on their core mandates

• Use of Data for Tax intelligence and economic planning including data points for a robust social register

• Capacity building for revenue agencies and institutionalising professionalism

• Modernisation and automation, and response to challenges of the digital economy

• Improve efficiency of collection and target a 1% cost of collection within the next 4 years

• Curbing corruption in revenue administration and measures to enhance taxpayers trust e.g. whistleblowing framework

• Structures to enhance and sustain voluntary compliance including tax agents accreditation, enhanced compliance framework (cooperative compliance), etc