Vice President Kashim Shettima, yesterday, restated the commitment of President Bola Tinubu’s administration to revamp the nation’s tax system without overburdening Nigerians.
Specifically, he said the fundamental motive of the administration was not to increase the tax burden on Nigerians, but to improve the efficiency of tax collection.
Speaking when he received a delegation from the Chartered Institute of Taxation of Nigeria (CITN) at the Presidential Villa, VP Shettima noted that no Nigerian was pleased with the illegal tax collection happening across the entire country by non-state actors.
Soliciting CITN’s insights on attracting foreign direct investment through competitive company tax rates, the VP said: “The focus of President Bola Ahmed Tinubu’s administration is not to increase the tax burden on Nigerians but to improve the efficiency of tax collection. That is our fundamental motive.”
“As you go across every state, you get to at least five or six places where you have to pay all sorts of fictitious taxes that do not get to the pockets of the government.” He stressed the importance of collaborating with the CITN to adopt global best practices in tax administration, pointing out that “knowledge is not something you can buy in the market square; you have to earn it”.
