Nigerian Government , Stakeholders’ review National Tax Policy

The Nigerian  government’s committee for the review of the National Tax Policy (NTP) has asked all stakeholders in the tax system to come up with fresh, dynamic and workable implementation strategies that would help the government review the nation’s tax system to conform to global best practices.

Chairman of the committee, Prof. Abiola Sanni made the call yesterday in his opening remark at the first stakeholders’ engagement at  in Abuja.

“Our Committee looks forward to robust ideas on the extremely exciting task of receiving the NTP. We look forward to having your ideas on the key tax policy consideration for curbing corruption, promoting accountability, broadening the tax net, improving the tax culture, combating the menace of multiplicity of taxes, among other things,” Sanni said.

Some of the specific areas the committee sort the opinion of the attendees that comprised of taxpayers, tax intermediaries, tax administrators and members of the Press that throng the hall are: whether a National Tax Policy is a sine qua non for the implementation of sound tax system; what is the best practice between having a general tax policy document and having separate policy statement specific to each tax?.

The Prof. Sanni-led committee also  asked their suggestions on the appropriate legal instrument for implementing tax policies and implications of National Tax Policy for fiscal federalism.

The committee, which was inaugurated on August 10, has the key mandate of reviewing the NTP document with a view to kick starting its implementation.

Giving the clue to their strategy for arriving at a good report that is expected to address all tax issues in the country, Sanni said: we are considering having a revised document that is slim, simple and consice,” adding, “A document which will impose duties and responsibilities on all organs of government, relevant agencies and persons. We seek to fashion a document to which tax laws and their administration will conform in all ramifications.”

Some of the members of the committee who spoke at the event expressed vision of a tax document that will eventually give a new lease of life to, and inspire far-reaching reform of the nation’s tax system with regards to structure, number of taxes and administration.

Member of the committee and a staff of Pricewatercoopers, Taiwo Oyedele gave a comprehensive download of the nation’s tax system while highlighting some of the challenges and possible ways of reforming the system that will put it at par with countries, including America and Denmark.