Multiple taxations killing businesses, MAN cries

In from Ali Smart …

Mr. Remi Ogunmefun, Director General, Manufacturers Association of Nigeria (MAN) has described as scandalous the unprecedented level of taxes levied against manufacturing companies operating in the country, a development, he said, is a disincentive to business.

The MAN boss spoke on Monday at a public forum in Lagos.

“Manufacturers are already overburdened by a lot of challenges including limited infrastructure, which is why it is unthinkable that they are continuously being overstretched,” he said.

Specifically, he said: “I can tell you without mincing words that many manufacturing companies in the country today pay one form of levy or the other to at least 25 agencies including federal, state and local governments respectively. This is killing. How can manufacturers survive in this kind of hostile environment, it is impossible.”

Read also: CAC boss seeks tax harmonisation

Expatiating, he said: “Manufacturers are groaning under severe multiple taxation that adds to the cost of business and disrupts the manufacturing chain. This is not fair at all.”

The way forward, he said, is for government at all levels to streamline these taxes in order to encourage the growth of companies.

“Many manufacturing plants we have today are no longer in business because of a number of factors, part of which includes poor operating environment and the issue of multiple taxations. There is an urgent need on the part of government to address this ugly situation,” he stressed.

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