Chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele, over the weekend said, no government agency has been stopped from collecting revenue, noting his team’s been mandated to harmonize tax collection. Oyedele, a former fiscal policy partner and Africa tax leader at Price Water house Coopers, PwC, also said the federal government did not intend to introduce new taxes. The fiscal policy expert made this known, in a post on X, addressing some frequently asked questions about the committee.
However, Oyedele said many of the agencies would rather focus on their primary functions, hence, the committee planned to harmonize revenue collection. He clarified that while the committee did not intend to introduce new taxes, it also didn’t want to impose higher tax rates. On how the committee planned to achieve a tax-to-gross domestic product ratio of 18 percent in three years, Oyedele said the average tax-to-GDP ratio for Africa, excluding Nigeria, was about 18 percent.
Chidozie Chima | September 20, 2024
