Home Business Harmonisation of taxes, policy direction will unlock Nigeria’s non-oil sector– expert
BusinessNewsPoliticsUncategorized

Harmonisation of taxes, policy direction will unlock Nigeria’s non-oil sector– expert

Share
Share

By Chioma Obinagwam

There should be harmonisation of Nigeria’s tax system if she must break the jinx of mono economy.

The Head of Tax and Corporate Advisory Services, PwC Nigeria, Taiwo Oyedele disclosed at the 2019 Finance Correspondents Association of Nigeria (FICAN) 2019 Annual Conference, held in Lagos on Saturday.

“There are about 354 taxes in Nigeria but the Federal Inland Revenue Services (FIRS) made 98 percent of its revenue from four Taxes but all the states made 90 percent of their revenue from one tax- Personal Income Tax,” he said.

He emphasized that over taxing businesses stifles the economy and discourages new businesses from springing up, hence a major disincentive to economic diversification.

Confiance News gathered that he frowned at the creation of conflicting policies in the country and highlighted the need for policy direction.

Oyedele further noted that unlocking opportunities in Nigeria’s non-oil sector also lies in investing in the education of Nigerians.

He said,”We have to start first by educating ourselves so that we can say to government, ‘this thing is not working again so that we can do things differently.'”

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

Why Trump sanctioned South Africa

By Chioma Obinagwam Please follow and like us:

NCC, Sweden signs pact to improve consumers’ network experience

By Chioma Obinagwam The Chief Executive Officer (CEO), of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has signed a great agreement with...

Related Articles

Why Trump sanctioned South Africa

By Chioma Obinagwam Please follow and like us:

NCC, Sweden signs pact to improve consumers’ network experience

By Chioma Obinagwam The Chief Executive Officer (CEO), of the Nigerian Communications...

‘We’ve been stewing in heat and darkness for five days,’ Ikeja Electric customer laments

By Chioma Obinagwam Customers of Ikeja Electric Distribution Company (DisCo) have decried...

In two photos, NDIC presents research publications to CJN

By Chioma Obinagwam Nigeria Deposit Insurance Corporation (NDIC) has presented its research...

Advertisements