We Have No Plans to Increase Taxes

The Federal Government says it has no plans to increase taxes or add to the burdens of the country’s tax-paying citizens.

The Chairperson, Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, said this on Tuesday while reacting to unconfirmed reports of government’s plans to increase taxes.

The tax expert revealed that what the government proposed was to reduce the country’s over 60 official taxes down to a single-digit tax number.

According to him, the plan is to be able to reduce the number to single digit so that across all levels of government, you do not pay more than 10 taxes.

“We are confident that this is possible with the support of everyone and we will continue to do what we can to close the tax gap to generate revenue instead of increasing taxes.

“We have the inaugural meeting of the committee and workshop next week Tuesday and more information will be provided to the public afterwards,” he said