NEWS

We Have No Plans To Increase Taxes- FG

The Federal Government has stated that it currently has no intentions to raise taxes or impose additional financial burdens on the nation’s taxpayers. Mr. Taiwo Oyedele, the Chairperson of the Presidential Committee on Fiscal Policy and Tax Reforms, addressed these concerns on Tuesday in response to unverified reports regarding potential tax increases.

The tax expert clarified that the government’s objective is to streamline the numerous official taxes, which currently exceed 60, to a smaller, single-digit figure. He explained that the plan aims to ensure that individuals do not encounter more than 10 different taxes across all levels of government.

“We are confident that this is possible with the support of everyone and we will continue to do what we can to close the tax gap to generate revenue instead of increasing taxes.

“We have the inaugural meeting of the committee and workshop next week Tuesday and more information will be provided to the public afterwards,” he said

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