The Federal Government says it has no plan to increase taxes in the country, saying what it’s trying to do is bring more people into the tax next to generate revenue for the government.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the clarifications in Abuja the nation’s capital on Thursday when a delegation from the Chartered Institute of Taxation of Nigeria, CITN, paid him a courtesy visit amid pushback from not a few Nigerians against the Tinubu’s administration new tax policy.
The administration had last year amended the nation’s tax laws, which, according to many is intended to raise the level of taxation in the country. The critics of the new tax policy have also argued that the administration push for a higher taxation is coming at the wrong time, when many Nigerians are facing serious economic challenges.
Reacting, Oyedele said the government is not planning to increase tax, saying what it intends to do is to ensure that more people pay taxes in the country, contending that the government needs to generate more revenue from tax paying citizens and residents
“It is not about increasing taxes but making sure that those who are supposed to pay tax pay. We want to promote fairness in tax administration,” Oyedele said.
Discover more from The Source
Subscribe to get the latest posts sent to your email.
