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.”
