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The federal government has revealed that it will, in the coming days, streamline its taxes from 52 to 10 in order to promote efficiency and…

The federal government has revealed that it will, in the coming days, streamline its taxes from 52 to 10 in order to promote efficiency and accountability.

The special adviser to the president on revenue, Zacch Adedeji, stated this yesterday during the virtual TOPAZ 88 second lecture series, which had the title, “Revenue Challenges and Opportunities in Nigeria Today.”

Adedeji noted that because of multiple taxations, compliance and trust in tax payment had become a huge challenge in Nigeria.

“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

“What we want to do now is to ensure that regulators focus on regulations while agencies in charge of tax collections will collect. For instance, the Nigerian Maritime Administration and Safety Agency (NIMASA) collects 3 per cent freight duty, but it is not their duty. Their duty is to secure the waterways. Collection of freights is the sole responsibility of the Nigerian Ports Authority. This is the reason we have leakages because we don’t know how much we have.

“However, if we streamline and harmonise these taxes, we will know how much we have and then we can effectively utilise them,” he said.

Speaking further, the presidential adviser also revealed that once the Senate constitutes its standing committees, the Federal Inland Revenue Service (FIRS) will be renamed to the Nigerian Revenue Service.

Explaining the rationale behind the name change, he said the idea was to ensure that all taxes due to the federal government becomes the sole responsibility of the federal government, as well as to avoid duplications.

He further revealed that the federal government will deploy technology in ensuring effectiveness and accountability in its tax collections.

https://dailytrust.com/fg-to-streamline-taxes-from-52-to-10/

Sounds good. Hope it yields expected results.

Nice one.

The listening government

This is a good news

Depriest2020:
Sounds good. Hope it yields expected results.

Ya

It will surely yield the expected results of streamlining the flow of the taxes into one pocket

Make them increase salary o

Embrace more taxes ahead. Nigeria government mostly since the inception of APC has been the more you look the less you see.


Government from FG to States has proven back to back that no good thing will come out of them.

Believe the government at your own expense.

BAT is cooking.

The finance sector is being re-engineered.

Fvck that shit 🖕

Nigerians are suffering.

Tinubu should declare a state of emergency on hunger.

If I hear...

Nothing government will do without corruption

Good one tax the rich well profit after tax rich don’t pay tax here like their west African counterparts


Promo sales on male clothing

Fantastic.

In Georgia, an ex-Soviet country in the Caucasus, streamlined all its taxes into 6.

10 is great for Nigeria considering its massive population of over 200m versus Georgia of 5m

Stop telling Nigerians about your useless audio plans. Start the implementation and let's see the results

All is well

Cool, I hope it works!

For those who did not read or read only the headline, they are streamlining the source of taxes, not reducing the number of taxes from 52 to 10,

What it simply means is that if they had 52 agencies collecting 52 different taxes, only 10 agencies will be collecting the 52 taxes....

Alpha Beta is expanding to federal level. Tinubu is about to finish Nigeria as he did embezzle in Lagos thru Alpha Beta

bestpunterever:
Make them increase salary o

And reduce income tax as well

Wa

Name 2 company beta than Alpha Beta at what it does in this country ?

Akwamkpuruamu:
Alpha Beta is expanding to federal level. Tinubu is about to finish Nigeria as he did embezzle in Lagos thru Alpha Beta

Bola na Thief

My own is they should cancel VAT on locally produced goods and increase tax on imported ones.

With this, local production will grow massively and millions of jobs created.

Tivnubucracy = Rascality

Fooools streamline your allowances & governmental wastages

I Love Bola Ahmed Tinubu

Islie:
The federal government has revealed that it will, in the coming days, streamline its taxes from 52 to 10 in order to promote efficiency and…




https://dailytrust.com/fg-to-streamline-taxes-from-52-to-10/

Those 10 taxes will be suffocating, anybody wanna bet?

Super story as usual.

Gullible sufferheads will run with it as usual.

People actually believe Tinubu’s government is here for the good interest of average Nigerians.

Una go cry tire.

A reasonable one

Regulation of sub national tax system is equally necessary, as the company bears final effects of all taxes, levies, penalties and interests.

In the light of wider Tax net, the rate and lower subsidy should equally reduce.

Good policies translates to good infrastructure

helinues:
Nice one.

The listening government

😄😄😄

datola:
My own is they should cancel VAT on locally produced goods and increase tax on imported ones.

With this, local production will grow massively and millions of jobs created.

For how long should we continue this Economics of 'Trial & Fail'? Wasn't this same thing Buhari tried and now we have Rice of #250 at #1300? Dollars of 200 at 850?
When will you guyz concede that Nigerian producers do not (yet) have the Capacity to meet demand?
Excessive taxation of imported goods will only lead to astronomical rise in price since our local manufacturers can not meet demands. Hence, the poor suffer more.
If the Government really care about Local production, then importing Companies should be given incentives that will make them set up mechanism for the goods they import so that they can start production instead of Importation.
That way, scarce FOREX is saved, Jobs are created and Nigeria is on it's way to Production instead of Consumption.
This may seem hard in Practicals but it's a better alternative to indiscriminate taxation that will lead to mass exodus of Companies, Costly goods and more poverty for Nigerians.

IN A COUNTRY WHERE PRODUCTION IS GENERALLY LOW, TAXATION DOESN'T DISCOURAGE IMPORTATION, IT ONLY MAKES IMPORTED GOODS COSTLIER.

Tax that the useless man will siphon and steal just like Lagos state

Barawo Banza kawai