The chairman of the President Tinubu Tax Reform Committee, Taiwo Oyedele, has clarified the recent reports regarding funds transferred by the Federal Inland Revenue Service (FIRS) to the Joint Tax Board (JTB) for the Presidential Fiscal Policy and Tax Reforms Committee.
A statement has been issued to clarify the matter:
The funds in question are intended to support the activities of the Committee, which include a vital national “Data for Tax” project that has been under the JTB’s advocacy for over two years.
Originally planned to be funded jointly by the federal government and the 36 states, the project faced delays due to insufficient funds. Consequently, it was incorporated into the Committee’s budget due to its significance in reforming the tax system.
The committee’s budget, which has received approval from the National Assembly, encompasses various expenses.
These include the establishment of offices for the Committee in Lagos and Abuja, salaries for full-time staff engaged by the Committee, travel expenses, logistical support for over 70 members representing more than 40 institutions and stakeholder groups across six different subcommittees, personnel from over 30 secretariats, and more than 40 students nationwide.
Additionally, the budget covers planned engagements with various sectors and interest groups, international initiatives, and the study of leading tax systems worldwide, among other aspects. The budget covers a one-year period, aligning with the committee’s lifespan.
It is important to note that the Committee’s role extends beyond producing reports and recommendations; it is also tasked with implementing approved proposals, which necessitate funding. As part of its mandate, the Committee is responsible for ensuring prudence and accountability in managing national resources.
Therefore, it operates with fiscal responsibility and transparency. Committee members volunteer their services and receive reasonable allowances to cover out-of-pocket expenses, as they cannot be compensated at commercial rates for their time, skills, and expertise. The Chairman of the Committee, despite dedicating full-time efforts to the assignment, does not receive a salary.
All expenditures of the Committee are meticulously documented and subject to audit. Detailed records are maintained, including receipts for expenses such as fuel and stationery. A substantial portion of the funds provided by the FIRS to the JTB for the Committee’s work—over N4 billion—remains untouched and securely held in the JTB account.
The Committee remains committed to responsible, prudent, and accountable management of entrusted public funds to fulfill its mandate. The statement concluded .
