The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said that his committee has drafted a new tax regulation, which will amend existing laws.
Speaking recently at a stakeholders’ forum organised by the Harvard Business School Association of Nigeria in Lagos, he said that there is an emergency bill, which awaits the approval of lawmakers in the country.
He said:
The goal is to provide comprehensive tax reforms that would enhance economic growth and ease the burden on businesses.
Oyedele also noted that Nigeria can easily earn N10 trillion annually via efficient management of its non-oil assets.
He added that the country’s non-oil assets, estimated to be around N80 trillion and N100 trillion, are yet to get sufficient attention and are mismanaged.
Oyedele said:
According to Oyedele, improving asset management and selling underperforming assets can help generate liquidity and stimulate economic growth.
