President Buhari expresses administration’s commitment to ensuring an efficient tax administration to improve tax revenue in country.
Written by News Room on April 4, 2022
President Muhammadu Buhari on Tuesday in Abuja expressed his administration’s commitment to ensuring an efficient tax administration to improve tax revenue in the country.
The president who said this when he declared open the second National Tax Dialogue Week, with the theme;” Tax Harmonisation for Enhanced Revenue Generation”, expressed concern at the current tax system in the country, which was characterized by fragmented administration, multiple and sometimes,
Buhari also stressed the need to maximize domestic revenue within the extant tax policy and laws in the face of dwindling revenues from commodities and proposed improved tax revenue for the country which would not necessarily impose new tax rates on Nigerians.
On Nigeria’s Tax-to-GDP ratio, the president declared that the country also needs to do more in securing a buoyant domestic revenue base of the country.
This according to him, will bequeath an enduring economic foundation, political stability and social harmony to the next generation.