The Constitutional Review Committee (CRC) recommended that the President pay taxes on his income and benefits while in office, but the administration rejected the idea of taxing the President’s pension and retirement gratuity.
As part of the government’s reaction to the recommendations of the Constitutional Review Committee, Attorney-General and Minister for Justice Dr. Dominic Ayine made the announcement on Thursday, July 30.
“The Government has accepted the principle that the President should not enjoy tax exemptions by virtue of office alone. The President will pay tax on salary and allowances, as well as the applicable indirect taxes on goods and services,” Dr Ayine said.
Nevertheless, the idea to tax the President’s pension and retirement gratuity was rejected by the cabinet.
“The Government has not, however, accepted the proposal to tax the President’s retirement gratuity and pension, and the details of the President’s tax liability will be worked out in the tax laws, where such details belong,” he added.
The statement is a part of the government’s reaction to the Constitutional Review Committee’s recommendations as it examines a number of changes meant to improve accountability and governance.
After the countrywide constitutional review process, the committee’s suggestions are anticipated to influence planned legislative and constitutional reforms.
Source: newsthemegh.com