₦airaland Forum

The federal government has been accused of mismanaging over 60 taxes and levies collected across the country. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made these allegations during a Senate plenary session on Wednesday.

Oyedele claimed that despite collecting over 60 taxes and levies, the government has little to show for it. The allegations came amidst a tense Senate session, where lawmakers protested the entry of the Federal Inland Revenue Service (FIRS) Chair, Zacch Adedeji, and his consultants.

The lawmakers suspended its rules to admit Adedeji and the consultants to explain what the Tax Reform Bill entailed.
Oyedele, however, noted that “the fiscal system we have today inhibits growth as more than 60 taxes and levies are collected from across the country but nothing to show for it.”
He added that the FG intends to put an end to the situation in which Nigerian businesses are forced to pay tax even when they are losing money.

“We do not want to tax capital or poverty but investment. We are beginning to lose our tax base to other countries. This is why it is urgent to reform the tax system,” [/b]Oyedele added.
Meanwhile, [b]the Senate declined to ask questions and decided to postpone further discussion on the tax reform bill until the next legislative session before a final resolution is taken.

Recall that Oyedele had previously noted the complexity of the tax system in Nigeria, noting, “There are approximately 60 official taxes and over 200 unofficial taxes, including taxes on deceased individuals.”

[b]“The solution isn’t simply to distribute food or cash, [/b]We must harmonise our tax collection processes. We are committed to improving how we collect taxes.”

“No nation ever grew more prosperous by taxing its citizens beyond their capacity to pay.” - former British Prime Minister Margaret Thatcher

Salewa97:
Toh!

Salewa97:
Toh

Anither563:
Hmmm. This is serious.

Racoon:
 “The fiscal system we have today inhibits growth as more than 60 taxes and levies are collected from across the country but nothing to show for it.

The FG intends to put an end to the situation in which Nigerian businesses are forced to pay tax even when they are losing money...."

tundegan:
The 60 taxes and levies mismanaged by FG over the years is what is now called "invisible hand of the market". We have felt the effect but we never knew where it was coming from.

If FG can get their act together and start managing these taxes well, we will start seeing the impact on our economy.

ebukal67x:
Not a single person in this thread is paying attention to the fact that the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms is a consultant. A consultant to the Federal Government, mind you. And he is there to explain the Tax Reform Bill to the Senate.

trutharena:
Good response from Oyedele.

Racoon:
Minus the alleged staggering saving from fuel subsidy removal and spurious IGRs being brandished here and there but the government is still borrowing thereby mortgaging Nigeria into irredeemable indebtedness and economic slavery. Keep up with the zombiesm

Anither563:
Hmmm. This is serious.

Chucks13:
Read the full article and stop being stupid. Read and hear what the guy explained, Read it will help you.