The Office of the Tax Ombud and the Oil and Gas Free Zones Authority (OGFZA) have resolved to collaborate on resolving tax and fee-related grievances.
This move forms part of efforts to attract more foreign direct investment into Nigeria’s oil and gas free zones.
The resolution was disclosed during a courtesy visit to OGFZA by the Tax Ombud/Chief Executive, Dr John C. Nwabueze, who described the proposed collaboration as a panacea for promoting fair, transparent, predictable and investor-friendly tax administration within Nigeria’s oil and gas free zones.
The Tax Ombud said: “I am very much aware that OGFZA regulates and coordinates activities in the zones, grants permits and licences, administers incentives, and resolves disputes among stakeholders. The Office of the Tax Ombud complements these functions by providing an independent channel for reviewing and resolving complaints relating to taxes, levies, regulatory fees, customs duties and excise matters.”
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According to Dr Nwabueze, the two agencies could collaborate in areas including taxpayer complaint resolution, clarification of tax incentives, review of systemic complaints, and the promotion of transparency and accountability. He said these efforts would contribute to increased voluntary tax compliance and a higher tax-to-GDP ratio.
Responding, the Managing Director/Chief Executive Officer of OGFZA, Usman Bamanga Jada, said investors in Nigeria’s oil and gas free zones have benefited from incentives, tax exemptions and customs duty concessions introduced by the Federal Government to encourage FDI inflows, private-sector-driven infrastructure development and employment generation.
Jada said collaboration with the Office of the Tax Ombud was timely, as it would help build investor confidence and promote business activities within the special economic zones.
Both agencies have appointed liaison officers to coordinate the relationship and facilitate the objectives of the collaboration.
