A sound and dynamic tax system is a critical factor for economic development including job creation, social welfare, better standard of living. At the heart of this is the need for a clear and robust tax policy framework which must be properly implemented.
Nigeria's current National Tax Policy was approved in 2010 but has barely been implemented if at all. To address this, the Minister of Finance recently set up a committee to review Nigeria's National Tax Policy and make recommendations for effective implementation. Areas of focus include key policy considerations regarding the following:
- Review of the National Tax Policy document;
- Enactment and amendment of the tax laws;
- Effective implementation of the National Tax Policy;
- Ensuring inter-agencies cooperation between revenue agencies toward enhancing the revenue of the Federation;
- Review and expansion of Nigeria treaty network and Double Taxation Agreement regime;
- Regular review of tax policy, legislation and administration; and
- Any other issue.
Below is a copy of the invitation for input from all stakeholders for your action. I have also attached a copy of the existing tax policy for your reference.
Join the conversation, participate and contribute. Together we can make Nigeria great!