Only 10 million Nigerians pay tax- NTP
Thu Aug 25, 2016 07:40:am Finance
4.8K By Buchi Obichie
The document-review committee of the National Tax Policy, NTP, has revealed that only 10 million Nigerians pay tax.
A member of the committee, Mr. Taiwo Oyedele, who spoke at a stakeholders' forum, in Abuja on Wednesday,said there was need for all taxable adults, institutions or companies to pay their taxes to boost the nation's revenue.
He called for high consumption taxes as most Nigerians had high taste and appetite for expensive items, especially expensive cars, private jets.
According to Oyedele, tax administration in the country was being inhibited by insufficient information, lack of accountability, lack of clarity, lack of skilled manpower and inadequate funding, use of force and aggressiveness, as well as obsolete laws.
The tax expert, therefore, called for a good tax policy that would ease payment of tax.
In his remarks, Chairman of the committee, Dr. Abiola Sanni, also stressed the need for a review of obsolete tax laws, while stating that political will at the highest level of Government was required for the implementation of tax laws.
He observed that in the United States of America, candidates seeking elective positions clearly made tax and revenue campaign issues.
He said, "We are considering having a revised document that is slim and concise. A document which will impose duties and responsibilities on all organs of Government, relevant agencies and persons. We seek to fashion a document to which tax laws and their administering will conform in all ramifications.
"We envision a document that will eventually give a new lease of life to, and inspire far-reaching reform of the Nigerian tax system in terms of structure, number of taxes, administration, and meeting our taxation objectives within the context of the peculiar Nigerian environment."
A member of the committee, Mr. Taiwo Oyedele, who spoke at a stakeholders' forum, in Abuja on Wednesday,said there was need for all taxable adults, institutions or companies to pay their taxes to boost the nation's revenue.
He called for high consumption taxes as most Nigerians had high taste and appetite for expensive items, especially expensive cars, private jets.
According to Oyedele, tax administration in the country was being inhibited by insufficient information, lack of accountability, lack of clarity, lack of skilled manpower and inadequate funding, use of force and aggressiveness, as well as obsolete laws.
The tax expert, therefore, called for a good tax policy that would ease payment of tax.
In his remarks, Chairman of the committee, Dr. Abiola Sanni, also stressed the need for a review of obsolete tax laws, while stating that political will at the highest level of Government was required for the implementation of tax laws.
He observed that in the United States of America, candidates seeking elective positions clearly made tax and revenue campaign issues.
He said, "We are considering having a revised document that is slim and concise. A document which will impose duties and responsibilities on all organs of Government, relevant agencies and persons. We seek to fashion a document to which tax laws and their administering will conform in all ramifications.
"We envision a document that will eventually give a new lease of life to, and inspire far-reaching reform of the Nigerian tax system in terms of structure, number of taxes, administration, and meeting our taxation objectives within the context of the peculiar Nigerian environment."
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