Presidential Panel Plans 83% Cut In Taxes, Levies

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said Nigeria has over 60 different forms of taxes and levies.

Many of the taxes, he added, made life unbearable for the poor in society.

Oyedele spoke, while featuring as a guest on the Channels Television programme ‘Sunrise Daily’, monitored by our correspondent on Monday.

He said his committee was working to reduce taxes and levies to less than 10, which would be a decrease of 83.33 per cent.

According to him, “Up together today, we have over 60 of those different taxes and levies. We think we should have less than 10 single digits. We think by having less than 10 that the magic is that people will actually pay less, and government will collect more because where you get the efficiency from is the collection that sometimes does not go to the government today.

“The Market Traders Association told us that you need seven tickets every day just to sell pure water. Seven tickets for what? That is from the Local Government, but it is not in the constitution.”

He noted that most of these taxes were coming from the local governments, while the money they got most of the time was not remitted to government coffers.

According to him, some local governments were taking advantage of the constitution levy payments such as wheelbarrow tax, and pure water tax on the poor in society, who were struggling to make ends meet.

Oyedele also said Nigerians did not trust the government, which was one of the reasons for not paying taxes.

He said Nigerians should focus on holding the government accountable and transparent.