PRESIDENTIAL COMMITTEE ON FISCAL POLICY AND TAX REFORM URGES FG TO QUASH MULTIPLE TAXES IMPOSED ON NIGERIANS 24-10-23
By Sadiq Aminu The Presidential Committee on Fiscal Policy and Tax Reform has recommended the quashing of multiple taxes imposed on Nigerians struggling to survive.
This is part of the recommendations contained in the committee’s report on its medium term solution to the problems of taxation across the country.
Briefing State House correspondents on the need to stop the collection of overbearing taxes, the Chairman of the committee, Mr. Taiwo Oyedele, described such taxes as inhumane.
“We have over 60 taxes and levies officially collectible by Federal Government, State Governments, and Local Governments. Unofficially, those taxes are over 200, making life difficult to our people. The objective we have is to bring all of that to a single digit. People selling pure water collect 7 tickets every single day. Why should someone, who is just trying to hawk pure water to keep body and soul together have to pay 7 taxes on a daily basis?”, he queried.
He said in the long term, the committee was in the process of re-writing the nation’s tax laws to remove impediments retarding the sustenance of local and foreign businesses.
“The most sustainable way for any country to generate revenue is to grow the economy. When businesses succeed, when individuals prosper, they pay taxes. Now we are at the phase of re-writing our laws. We’ve spent time with the National Assembly, and the whole idea is, we think that some of the reforms we need to introduce, we have to go the constitution itself”, Mr. Ayodele explained.
The other recommendations in the committee’s Report, referred to as Quick Wins, will be deliberated upon at next week’s Federal Executive Council meeting for adoption and approval or otherwise.