Nigeria's Multiple, Overlapping Tax System Worries Buhari Says it's inefficient, creates uncertainty, instability Canvasses efficient tax administration for increased revenue Deji Elumoye in Abuja President Muhammadu Buhari has faulted the nation's current multiple and overlapping tax system saying it's inefficient and creates uncertainty and instability.
He therefore canvassed for efficient tax administration to boost the nation's revenue base. Speaking yesterday while declaring open the second annual National Tax Dialogue Week in Abuja, the president said he was worried
about the current tax system in the country, characterised by fragmented administration, multiple and sometimes, overlapping taxes. According to him: "Multiplicity of tax administration is as undesirable as multiplicity of taxes; it creates
uncertainty and instability; and above all, it is inefficient." He, however, expressed his administration’s commitment to an efficient tax system in order to improve tax revenue in the country. He said: ''In most tax-efficient
nations, tax administrative processes and practices are harmonised within a single system. ''One key deliverable of this year’s tax dialogue is to promote synergy in tax administration among the different tiers of government.
''Harmonising taxpayer identification across the country is a good start; but we must do more to promote ease of doing business (including ease of tax compliance) Continued on page 41
Nigeria Suffers $14bn Loss to Farmer-herder Clashes, Says Osinbajo… Page 6 Wednesday 30 March, 2022 Vol 27. No 9850. Price: N250
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$418m Paris Refund: Governors Appeal Suit Challenging Dismissal of Deductions Chuks Okocha in Abuja Governors of the 36 States of the Federation have appealed the court judgment which dismissed their suit challenging the federal government’s planned deduction of $418 million from the federation account to settle
debts owed consultants engaged by the states and local governments on the Paris Club refunds. Justice Inyang Ekwo had dismissed a suit by the AttorneyGeneral of the 36 states against the federal government in a judgment delivered recently saying the
attorneys-general have not shown enough evidence to accord them the right to institute the action. He held that there was no express evidence to show that the governors of the 36 states consented to the filing of the suit. However, the governors through
their attorneys in their appeal, advised the general public and all financial institutions in Nigeria and abroad that the matter was subjudice and urging them to desist from dealing with the defendants in the suit. According to them, “with respect
to promissory notes issued to them and intended to be discounted and given value from funds due to the states of the federation from the federation account in respect of judgment debts arising from suits in connection with the London Paris club contracts pending the hearing
and determination of the appeal. “Be it known that any person or persons who take steps in respect of the promissory notes in the face of the pending appeal do at his or her peril.” Continued on page 41
Scores Feared Kidnapped in Terrorists’ Daredevil Raid on Kaduna Train Survivors speak of their ordeals, say they saw hell, prayed and prayed Buhari: No one will hold us to ransom, orders military to be ruthless with terrorists Amaechi confirms 8 dead, 41 hospitalised, 362 passengers onboard TUC, NMA, NBA, NBTE suffer casualties Bank of Agriculture MD, Hassan, niece, others still missing Life is near worthless under APC, president, says PDP Iyobosa Uwugiaren, Deji Elumoye, Chuks Okocha, Onyebuchi Ezigbo, Sunday Aborisade, Udora Orizu, James Emejo in Abuja, John Shiklam, Kasim Sumaina in Kaduna, Seriki Adinoyi in Jos and Hammed Shittu in Ilorin As many as 200 passengers might have been kidnapped during
Monday’s raid on a Kaduna-bound train by dare-devil terrorists in a well-organised operation, THISDAY has learnt. A THISDAY special investigation discovered that although 398 passengers bought tickets for the Continued on page 41
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Vice President Prof. Yemi Osinbajo, and Kaduna State Governor, Nasir El Rufai, at the 44 Nigerian Army Reference Hospital, Kaduna, to console victims of the Abuja -Kaduna train terrorists’ attack... yesterday PHOTO: Tolani Alli
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