IMF ON TAX IN NIGERIA: Expand tax net rather than tax rate, MAN, LCCI, other stakeholders tell FG

Vanguard News / Urowayino Warami / 

By Peter Egwuatu, Nkiruka Nnorom, Rosemary Onuoha & Naomi Uzor

Manufacturers Association of Nigeria, MAN, Lagos Chamber of Commerce & Industry, LCCI, and other stakeholders in the private sector have called on the Federal Government to expand tax net and jettison any advice to increase Value Added Tax, VAT, stressing that Nigeria’s fragile economy would not be favourable for increase in tax rate.

The call came in reaction to the International Monetary Fund, IMF’s advice to the federal government to urgently review the country’s tax policies, with emphasis on taxing the richest three percent of the country’s population, widening the tax base and increasing compliance on VAT.

Continue reading IMF ON TAX IN NIGERIA: Expand tax net rather than tax rate, MAN, LCCI, other stakeholders tell FG at Vanguard News.

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