Adesokan: 92% of Taxpayers Pay Zero or Lower Taxes Under New Act
*Declares 21 states have adopted harmonised tax, levy legislation as authorities seek to dismantle multiple charges amid 27% rise in revenue *FG, states plan joint audits to cut compliance costs,
Olusegun Adesokan, Executive Secretary of the Joint Revenue Board (JRB), reported that 92% of taxpayers paid zero or lower taxes under a newly implemented tax regime in Nigeria. This development comes as a result of several reforms aimed at simplifying the tax system and reducing the burden on lower-income earners. Adesokan highlighted that 21 states had adopted the harmonised tax legislation, and the JRB was collaborating with state authorities to address challenges such as unauthorized roadside collections and multiple taxation.
The new system includes a National Tax Identification system, which will streamline tax identification across federal and state jurisdictions. Joint audits between the JRB and state revenue services are also planned to reduce compliance costs and minimize disruption to businesses.
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