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Nigeria to set review its National Tax Policy

Nigeria to set review its National Tax Policy Nigeria to set review its National Tax Policy
Nigeria to set review its National Tax Policy

The Nigerian government has announced plans to review the country’s National Tax Policy, as part of ongoing fiscal and tax reforms.

This move comes as a result of consultations and public engagements to address various fiscal issues and ensure a more efficient and effective tax system.

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, shared that new tax laws have been drafted and proposals for amendments to the Constitution have been submitted.

These changes aim to streamline the tax system and make it more business-friendly.

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One of the key goals of the committee is to reduce the number of taxes to a single-digit figure across all levels of government. This initiative is expected to simplify the tax regime and make it easier for businesses to comply with tax obligations.

In line with these efforts, the committee is organizing a Policy Exposure and Impact Assessment Session to provide updates and discuss the proposed changes.

This session will be an opportunity for stakeholders to provide feedback and input on the revised tax policy.

Nigeria to set review its National Tax Policy
Nigeria to set review its National Tax Policy

Oyedele explained that the committee is looking to completely overhaul Nigeria’s tax laws by rewriting them from scratch rather than just making amendments.

This process would involve enacting a new comprehensive law that takes into account all the major tax issues the country is facing.

In addition, the committee is also considering the establishment of an office of Tax Ombudsman to provide crucial information and insights for resolving tax-related matters.

Furthermore, there are plans in motion to develop a national tax policy for Nigeria that will address key areas such as spending, borrowing, governance costs, and the quality of expenditures.

Additionally, Oyedele highlighted the committee’s target of achieving a minimum tax-to-Gross Domestic Product (GDP) ratio of 18 percent within the next three years.


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