President Bola Ahmed Tinubu Administration To Suspend Multiple Taxes For Nigerians.
The administration of President Bola Ahmed Tinubu is working to suspend multiple taxes for Nigerians until a global reform is conducted.
This was disclosed on Wednesday by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele.
Oyedele made the statement during an interview on a Television programme, Business Edge, on News Central TV.
He said the President Tinubu-led administration was responding to Nigeria’s most pressing economic needs such as foreign exchange management, price stability, generating employment and more.
”We are identifying those taxes that particularly impact on price stability like haulage, when people move produce from one location to another and sometimes pay between 60 to 70 different levies and taxes at different points.”
He said the committee is encouraging the sub-national in particular who collect these taxes to suspend them pending when a more global reform is done.
Last month, President Tinubu received the ‘Quick Win Report’ on fiscal policy and tax reforms from the committee.
Oyedele said, concerning multiplicity of taxes, the committee has a list of approved levies and taxes collectable by local government, state government, and the federal government.
He said the taxes add up to 60 different taxes but are a lot more than 200 when officially.