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VAT Increase v. GDP Reality: A Radical Approach

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In this series, what I have done here is to avert the mind of Nigerian government to the feasible lessons they can learn from the tax system and reform in other jurisdiction(s).  Government approach to revenue generation and financing is no child play, and only a serious and sincere government can apply effective solutions. Read the below article FYI . Enjoy! Vat increase and Nigeria’s GDP: Borrowing a leaf from Djibouti’s strides As part of his effort to lay a solid foundation towards economic prosperity, president Buhari, on January 13, signed into law the hitherto Finance Bill, which basically, came as a child of necessity, and which among other things, focuses on generating revenue for the government, facilitate the ease of doing business and raise Nigeria’s tax base with a view to meeting global best practice. In another stroke of economic rejuvenation, on January 20, the president; converged in London in a maiden program tagged UK-Africa Investments Summit, basically to showc...
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Tax Reform or Budget Reform ? : An Answer too Visibly Glaring

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This is a festive season in governance, no doubt. Oh! not a festivity of feast and jollification per se but a season of budget jamboree where all padded figures are diverted to the plans for cover up are hatched. But there seems to be a nation, oh, apologies a country, or better still an entity where majority are ironically happy in destitute and the minority are ironically languishing in affluence. Nigeria we hail thee! The best economics in to the government has proposed a tax reform, however, no one is bold enough to impose a budget reform- where accountability and affordability are absent the economics encyclopedia of those at the helms of affair. Can we cut our cost before our cost cuts us?  Read the below piece as published in 3 major newspapers in Nigeria. While this had been published a few years back, ( see the link here:  https://businessday.ng/opinion/article/beyond-budget-jamboree-and-official-profligacy/ )  I have felt the imperative to revisit this article,...
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Revisiting Nigeria's Tax Reform Bill Brouhaha: Lessons from Previous Lesson

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There has been a raging debate on the proposed tax reform bill in Nigeria. This debate, perhaps, stemmed mostly from the facts of the nature, context and paradigm of the proposed tax reform. Sometime around 2024, the Presidency through its agency named Presidential Committee on Fiscal Policy and Tax Reforms, headed by a tax guru Mr. Taiwo Oyedele had proposed a harmonised reform in Nigeria's tax system that seems not sitting well with some quarters of the country. The bill, as defined by a top tax company, Anderson is: aim to promote uniform procedures for a consistent and efficient administration of tax laws to facilitate tax compliance by taxpayers in line with current realities. The Tax Reform Bills comprise the Nigeria Tax Bill, Nigeria Revenue Service (Establishment) Bill, Nigeria Tax Administration Bill and Joint Revenue Board (Establishment) Bill. The Nigeria Tax Bill (the Bill) consolidates the legal frameworks relating to taxation within the purview of the federal governm...
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