*Says current tax system not producing right results
*Proposes tax exemptions for vulnerable people
James Emejo in Abuja
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said Nigeria can generate more revenue without raising taxes and hurting the economy.
Speaking during a television interview at the weekend, Oyedele said the right measure was not to introduce more taxes.
According to him, with the use of data, intelligence, and technology, Nigeria can close the tax gap by ensuring people who have not been paying taxes begin to pay.
He said the committee believed that having fewer taxes would be broad-based, and easy to collect.
“Certainly, you know the whole idea is that we have done whatever we are doing now for decades, and it hasn’t produced the right result,” Oyedele said.
“We have over 60 different taxes and levies, but we are barely even collecting enough money to fix roads.
“By the…
Source: Thisday Newspaper
