The Federal Government, through the Presidential Committee on Fiscal Policy and Tax Reforms has disclosed plans to cut down the number of taxes payable in Nigeria to less than ten–single digit.
This was revealed by the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele in Abuja on Tuesday who decried the several informal taxes being collected across the country.
“What I want and hope to achieve is the reduction of the number taxes to less than 10, yes we want a single digit, and also we want to cut down revenue collection agencies to one for each of tier of government. With this, the federal government have one revenue collection agency, same for state and local government. So that they can focus on their primary mandate of making life easier for citizens.”
According to Oyedele, over sixty-two taxes were officially being collected at the different levels of government in the country which is a burden on Nigeria business operators.
“So these are fundamental issues we must address our people also leaving the country as a percentage of the population not too far. From my view is that even if it’s only 1 percent, to the extent that they are leaving because they feel frustrated, then we should be concerned ” he said.