The Presidency Says It Is Working to Reduce Taxes in The Country from The Current 62 To A Maximum of Nine, In Order to Create a More Business-Friendly Environment.
The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, Disclosed This at the 2023 Annual Conference of The Institute of Chartered Accountants of Nigeria, Stating That the Step Has Become Imperative as The Current Multiplicity of Taxes Has Made Tax Administration Cumbersome and Ineffective.
The Chairman Compared Nigeria’s Tax Revenue of N15. 194 Trillion 2022 To The Equivalent Of N78 Trillion Revenue Of South Africa, With Only 10 Taxes In The Same Period.
Oyedele Said That Administrative Intervention and Constitutional Amendment Would Be Required to Achieve the Tax Reduction Goal
