Suggestions




·

Presidential Committee Advocates USSD, Digital Tax Payment, Reforms For Efficient Collection

January 24, 2024
by
How Nigerian Govt Can Generate N10trn From Non-oil Assets Annually – Tax Panel Chair

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has recommended the use of Unstructured Supplementary Service Data (USSD) and other digital channels for tax payments across Nigeria’s three tiers of government.

Oyedele revealed the plan on Wednesday, emphasizing the need to alleviate the burden of numerous existing taxes on citizens.

Join our WhatsApp Channel

Speaking directly, Oyedele highlighted the proposal’s key aspects, including the cancellation of burdensome taxes, the harmonization of justifiable ones, and the digitization of the collection process using USSD.

READ ALSO: Licensed Customs Agents Urge Govt Action On Exchange Rates, Taxation To Revive Maritime Sector

He stressed the potential benefits of driving efficiency, reducing leakages, and promoting accountability through this modern approach.

Drawing attention to the current tax landscape, Oyedele pointed out that the multitude of taxes, levies, and charges—especially at the state and local government levels—disproportionately affect small businesses and low-income earners.

He expressed concern about unauthorized taxes and the associated challenges faced by individuals like petty traders, artisans, and transporters.

In a bid to address the social dimension of these reforms, Oyedele presented two options: recruiting and training new personnel for compliance or instilling civility in existing collectors.

He advocated for the latter, emphasizing a more sustainable solution to avoid potential backlash and social crises.

“The success of our reforms lies in finding a win-win outcome for all stakeholders,” Oyedele asserted, inviting criticisms and actively seeking feedback from the public.

He emphasized the Committee’s openness to engaging with diverse perspectives, reinforcing the commitment to creating a tax system that benefits both the government and its citizens.

Emmanuel Ochayi
+ posts

Emmanuel Ochayi

Related Posts

NGX ASI Further Drops By 0.67%, As BUA Cement, Eterna Among Top Losers
Previous Story

NGX Surges To Record Highs, As Market Cap Hits N55.58trn

OPay Set To Block Accounts With KYC Problem From March 
Next Story

OPay Set To Block Accounts With KYC Problem From March 

Featured Stories

Related Posts

Latest from Business

Petrol Prices Set to Rise After Dangote Price Increase

Fuel prices in Nigeria are expected to rise sharply after a hike in refinery rates, as Africa’s richest man Aliko Dangote outlined broader plans to expand into power, steel and infrastructure. The Dangote Petroleum Refinery has increased its gantry price for Premium
Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

NGX Market Cap Rises To N125.48trn — Up By N1.72trn

On Monday, March 2, the Nigerian Exchange (NGX) recorded a N1.72 trillion increase in its market capitalisation, which rose to N125.48 trillion from N123.76 trillion on Friday, February 27. The market capitalisation increased by 1.39 percent after the all-share index (ASI) expanded
NGX ASI Further Drops By 0.67%, As BUA Cement, Eterna Among Top Losers
Previous Story

NGX Surges To Record Highs, As Market Cap Hits N55.58trn

OPay Set To Block Accounts With KYC Problem From March 
Next Story

OPay Set To Block Accounts With KYC Problem From March 

Don't Miss

Oyo state governor Seyi Makinde

Governor Makinde Reveals Investors’ Advantage In Partnering State On Agriculture

OYO State Governor, Seyi Makinde has called on private investors

Niyel Launches 77 Free Advocacy Tools For Change Creators 

DAKAR, SenegaI, 06 July 2022 -/African Media Agency (AMA)/- Niyel, international, impact-driven