In case you missed it, an expert’s view on Nigeria’s revenue and tax systems

As debate over the 2019 Financial Bill continues from last year, with experts expressing divergent views on the seemingly complex nature of Nigeria’s revenue and tax systems, a crop of financial leaders has linked the country’s yet-unpromising oil market to the fundamental framework upon which the economy is built and managed.

One of these experts is Taiwo Oyedele, Partner, Fiscal Policy and West Africa Tax Leader at PwC, who, in his overview of the 2019 Financial Bill, highlighted a number of factors responsible for the current economic situation that seems not to favour Nigeria’s prosperity when readily measured against some fiscal index.

Read also: US-Iran crisis, internal political stability, other factors will shape Nigeria’s economy in 2020 —NSE Chief

He lamented the fact that Nigeria currently operates a complex tax and revenue system, noting that a major challenge the country is faced financially emanates from year on year deficit budget and unsustainable debt burden.

“One of the critical challenges facing the tax system in Nigeria is the shockingly high level of non-compliance as a result of low tax morale,” Taiwo said.

Find full review here.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now