The Goal Of The New Tax Law Is To Protect Small Businesses, Make Sure The Wealthy Meet Their Obligations -Says Governor Sanwo Olu

 The Governor of Lagos State, Babajide Sanwo Olu has commended president Bola Tinubu's new tax reform law 

Babajide Sanwo Olu made this disclosure via his twitter handle on Tuesday. He stated that the goal of the tax law is to protect small business and make the wealthy meet their obligations 

Sanwo Olu statement reads: "Today, I shared at the Lagos Tax Reform Summit that the success of President Bola Ahmed Tinubu’s tax reform will not be decided by federal laws alone. It will be decided by how well states put those laws into practice

"That is why we have already started adjusting our revenue portal ahead of the new tax framework expected to take effect in January. Our duty is to make sure policy is felt in real life by businesses, workers and families.

"This summit is about turning reform into action. Lagos has always worked within the national fiscal system, and we remain fully aligned with the reforms being led by President Bola Tinubu

"I know some people fear that these reforms will hurt the poor and favour the wealthy. That is simply not true. The goal of the new tax law is simple. Protect small businesses, make sure the wealthy meet their obligations, close revenue leakages and bring more people fairly into the tax system

"These changes are not easy. But the hard part is already giving way to real progress. I commend President Tinubu for having the courage to take these steps. It takes experience and confidence to fix a system that has been broken for too long.

"For us in Lagos, this reform fits naturally into how we manage public finance. Our population keeps growing, our needs keep rising, and we must rely more on strong, home-grown revenue if we want to keep delivering services.