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FG Considers Tax Cuts Over Economic Hardship
Eko Hot Blog reports that the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, says the federal government is considering cutting over 60 taxes to ease economic hardship on Nigerians.
Oyedele disclosed this on Monday during an interview on Channels Television.
He lamented that multiple taxation is making life unbearable for Nigerians.
He said his committee was working to reduce taxes and levies to less than 10.
“Up together today, we have over 60 different taxes and levies. We think we should have less than ten single digits.
“By having less than 10, we believe that the magic is that people will pay less, and the government will collect more because where you get the efficiency from is the collection that sometimes does not go to the government”, he stated.
It would be recalled that President Bola Ahmed Tinubu inaugurated the presidential Tax and Fiscal reform committee on August 9 to revamp the sector.
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