The Presidential Committee on Fiscal Policy and Tax Reforms has said that it is meeting with state governors in order to reach an agreement for states to suspend some low-revenue taxes.
The panel said the move would lead to the suspension of ‘nuisance taxes’ by states and local government authorities across the country.
The tax panel was inaugurated by President Bola Tinubu a few months after assuming office and is expected to champion tax reforms and help the nation to raise the much-needed tax revenue to enhance economic growth and development among other things.
The Chairman of the committee, Taiwo Oyedele, said the low-revenue taxes, which he described as “nuisance taxes” were not adding value to the state’s coffers.
The tax panel chairman lamented that most of the taxes, especially those imposed on the transport of goods from the North to the South and vice versa were negatively affecting the poor.