Vice President Kashim Shettima says the President Bola Tinubu’s administration is reforming the nation’s tax system, focusing on improving collection efficiency rather than increasing the tax burden on citizens.
During a meeting with a delegation from the Chartered Institute of Taxation of Nigeria (CITN) at the Presidential Villa on Thursday, VP Shettima emphasized that the administration’s primary goal is to enhance tax collection methods.
He noted widespread dissatisfaction with illegal tax collections by non-state actors across the country.
A statement signed by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, on Thursday, said Shettima highlighted the importance of CITN’s expertise in attracting foreign investment through competitive tax rates.
READ ALSO :Tinubu managing Nigeria’s money very well – Shettima
“Our focus is not on increasing the tax burden on Nigerians but on improving collection efficiency. This is our fundamental objective,” he stated. He criticized the multiple unauthorized tax collections that deprive the government of revenue.
Advertisements
The Vice President stressed the need for collaboration with CITN to implement global best practices in tax administration. “Knowledge is not something you can buy; you have to earn it,” he remarked.
CITN President Samuel Agbeluyi commended the government’s efforts to address national needs, including the suspension of the Cyber Security Levy. He praised initiatives such as unifying exchange rates, attracting foreign investment, and establishing the Presidential Committee on Fiscal Policy and Tax Reforms.
Agbeluyi outlined CITN’s goals, emphasizing the importance of strategic partnerships with the government to implement fiscal policy recommendations. He advocated for the professionalization of tax functions within government agencies and recognition of exemplary tax professionals and taxpayers.
“We believe that our collaborative efforts will significantly contribute to a fair, transparent tax system that drives Nigeria’s economic growth,” Agbeluyi stated. CITN pledged to provide technical and professional advice to enhance tax system efficiency, ease of doing business, and prudent use of taxpayer resources.