Minister of budget and national planning, Udo Udoma while responding to a comment by Senator Ben Bruce at a public hearing of the joint session of the national assembly on the 2017 budget said the federal government has no plan to increase taxes.
The minister said the government is working towards broadening its tax revenue base.
He said; “A view has been expressed that we should not increase taxes, that we should broaden tax collection instead, that is precisely what is in the budget,”.
“There is no increase in VAT, there is no increase in company’s income tax, there is no increase at all in taxes, but people who are not paying taxes must be made to pay.
“So the idea is to increase revenue by broadening the tax base, not by increasing taxes.’’
“We are determined, thereafter, to begin to go back to the path of growth, a more diversified growth, not depending just on crude oil,”.
Udoma also said government has consulted with the private sector extensively on the economic recovery plan.
Join our twitter community :