Tax Ombud, OGFZA to resolve investor disputes, boost foreign investment

The Federal Government of Nigeria aims to increase its tax-to-GDP ratio by enhancing tax revenue while attracting foreign direct investment (FDI) and stimulating private-sector activity. To achieve this, the Office of the Tax Ombud and the Oil and Gas Free Zones Authority (OGFZA) are exploring inter-agency collaboration to address tax and fee-related disputes that could discourage investors from operating in the country's oil and gas free zones.

The partnership aims to provide an independent channel for resolving complaints over taxes, levies, regulatory fees, customs duties, and excise matters. By working together, the agencies seek to create a fairer and more predictable environment for businesses operating within the zones, ultimately improving transparency and accountability in tax administration and encouraging voluntary compliance with tax obligations.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.