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Nairaland Forum / Nairaland / General / Politics / Tax: Nigeria’s New Oil? (13229 Views)
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Re: Tax: Nigeria’s New Oil? by Nobody: 11:17pm On Sep 18, 2017 |
mrvitalis: You make a lot of sense. |
Re: Tax: Nigeria’s New Oil? by DarryOsh(m): 1:47am On Sep 19, 2017 |
Ovamboland: I must say that your comment drove me to dig deeper. I have to concede that our Tax to GDP ratio is rather low ( 6% according to Wikipedia, while S. Africa's is 27%). For some countries it is almost 50%. And yes, some experts believe that high taxes forces the government to become more accountable to its citizens. You definitely know what you are saying. But in my opinion for higher taxes to translate into commensurate delivery , there is a minimum requirement that must be met. That minimum requirement is strong institutions, (near) zero corruption. In summary, a working system that delivers. I don't think the lack of government revenue is the reason for our non-working systems. So I am shifting ground. I agree we definitely need to collect more taxes. But, I think that our most pressing problem at this time is not tax, it is the system that will manage that tax and manage it well. 1 Like |
Re: Tax: Nigeria’s New Oil? by Ovamboland(m): 9:37am On Dec 02, 2017 |
DarryOsh: Thanks for carrying out research on this issue and i really appreciate your candour for freely expressing your findings, you are destined for greater things I absolutely agree our instituition are very weak even to adequately manage the increase in revenue from tax. A lot needs to be done in that regards, but it we will wait forever and keep passing the buck for as long as the responsibility of financing government does not rest on the shoulder of the citizens. We will keep waiting for the elusive great leader who come and right all the wrongs and he/she is more likely to fail than succeed. The example is what we have at present. It's the level of our engagement with the system as citizens, asking questions, cajoling our senators and Reps to pass good laws, making adequate use of FOI bills to make information on how our money is spent public, taking pains to verify spending profiles and contracts, financial forensics etc that can make our taxes count. Expecting the current crop of politicians to do all these on there own may never happen. Do you think a citizen who earned 500,000 Naira in a whole year and paid about 100,000 as tax to the government will also collect 1,000 at election point to vote in a thief to go and eat and mismanage his 100,000 Naira tax funds? 1 Like |
Re: Tax: Nigeria’s New Oil? by Nobody: 1:10pm On Dec 06, 2017 |
Rchibs: |
Re: Tax: Nigeria’s New Oil? by Ovamboland(m): 8:44pm On Feb 17, 2018 |
Ovamboland: |
Re: Tax: Nigeria’s New Oil? by Kingspin(m): 8:57pm On Feb 17, 2018 |
Development and good policies ought to be our new found oil lazy government of Nigeria |
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