Plans are underway by the Federal Government to review its tax policy with a view to reduce taxes from 52 to 10.
Zacch Adedeji, the Special Adviser to the President on Revenue, made this known at a virtual TOPAZ 88 second lecture series.
Speaking on the theme, “Revenue Challenges and Opportunities in Nigeria Today”, Adedeji believes that the government is doing everything to promote efficiency and accountability.
According to him multiple taxation had been a major challenge to investors and businesses in Nigeria, saying the government is working seriously to ensure the poor are given consideration.
In his words:
What the Federal Government is doing right now is to ensure that the poor breathe. The aim of this administration is to tax prosperity and not poverty and tax the fruit, not the seed.
This is why, in the coming days when the tax committee is constituted, we will ensure that we streamline our taxes from 52 to 10 because we have realised that it is very difficult to have compliance due to so many taxes.
Barely three weeks ago President Bola Ahmed Tinubu signed four executive orders to curb arbitrary multiple taxation policy in Nigeria.
(C) Control TV 2023.
