FG SEEKS NUMEROUS TAX REDUCTIONS

Babatunji Wusu –

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has stated that he wants to see less than 10 taxes collected in Nigeria.

He emphasized this goal in Abuja at the Institute of Chartered Accountants of Nigeria’s 53rd annual conference.

Oyedele emphasized the hardship that more than 62 legally collected taxes at various levels of government place on Nigerian business owners.

He also voiced concern about the numerous unofficial taxes levied all around the nation.

Oyedele intends to streamline the taxation system by creating one revenue collection agency for each level of government as part of his strategy.

At the federal level, he remarked. Approximately 16 people are on the list formally at the state level, and there are 25 local governments, but this is only the beginning of the story.

The narrative is lacking. Until you include the more than 108 unofficial taxes collected everywhere, occasionally by non-state actors who have been given authority by the government, either passively or aggressively,

In Nigeria, we actually have wheelbarrow jobs and bicycle tariffs. If you want to know what wickedness is, I believe it to be telling a man who is struggling to make ends meet that his taxes need to be paid while they are out in the heat pushing a wheel.

“I want and hope to reduce taxes to under 10; yes, we want a single digit, and we also want to eliminate revenue collecting organizations altogether, replacing them with only one for each level of government.

With this, the federal government and state and local governments each have a single agency for collecting taxes.

so that they can concentrate on fulfilling their main responsibility of making citizens’ lives easier.