The Presidential Fiscal Policy and Tax Reform Committee has recommended the suspension of levies against petty traders.
The committee’s chairman, Taiwo Oyedele, on Channels TV, said the recommendation was made to reduce the burden on small businesses.
Oyedele also noted that the government collected 98% of its revenue from less than 10 taxes, saying it was unnecessary to have a plethora of taxes that create problems for people and fund criminals.
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Mr. Oyedele said he presented the idea at the last National Executive Council meeting (NEC) and sought the support of the governors. This was necessary as he said the Federal Government didn’t want to be taken to court after suspension of the tax.
He also said Nigerians at the bottom of the ladder or small business owners should expect a lot of relief as some of the numerous taxes at those levels will be done away with.
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