NESG to Drive Growth With ‘Better Tax’ Initiative

tax relief
  • NESG to Drive Growth With ‘Better Tax’ Initiative

The Nigeria Economic Summit Group says it is set to unveil the findings of its nationwide survey on tax perception and drive government-citizen engagement for sustainable fiscal reforms through its ‘Better tax’ initiative.

The Chairman, NESG Fiscal Policy Roundtable, Dr Sarah Alade, said the project on Better Tax, was distinct from previous tax reform initiatives because it adopted a multi-pronged approach to easing the tax burden.

“The project leverages the findings of nationwide survey to cascade information on Nigeria’s current fiscal position in a concise manner designed to educate stakeholders on the role of taxation, and the dual responsibility of citizens and the government to actualise the social contract envisaged through strict tax compliance and fiscal responsibility as obtains in developed economies,” she said.

According to the organisation, Better tax, scheduled for launch in Lagos this week is a product of the NESG’s Fiscal Policy Roundtable’s commitment to building a globally competitive Nigerian economy through fiscal consolidation that impacts the citizenry and drives holistic national development.

It added that it sought to create a platform for discourse between government and the citizenry that would reshape tax perception.

The NESG said it was expected to transform tax from being perceived as a burden to a tool for socio-economic development.

It stated, “Experts have long advocated a refocus on the non-oil sector of the Nigerian economy following the 2014 crash in global oil prices.

“Better Tax sets a radically different tax reform agenda for Nigeria that is impactful and proffers evidence-based solutions to address the twin-problem of low tax morale and compliance that Nigeria continues to grapple with.

“The research component of ‘Better tax’ is holistic and cuts across the six geo-political zones. It includes all stakeholders across the tax revenue value chain such as the government, taxpayers and tax officials. The overarching objective of the project is to drive mutual collaboration and action among all stakeholders which will, in turn, see Nigeria transform its tax strategy and grow its revenue significantly in record time.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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