The Governor of Kaduna State, Nasir El-Rufai, and the Chartered Institute of Taxation of Nigeria (CITN) are working on a strategic document that will assist the Federal Government to impose taxes on global technology companies operating in Nigeria.
The President, CITN, Mr Adesina Adedayo, during a courtesy visit by a delegation from the institute to the Vice President of Nigeria, Prof. Yemi Osinbajo, in Abuja.
He identified other taxes the team was working on as taxation of agriculture at the farm gates and informal sector.
The CITN president’s presentation, which was obtained on Wednesday, said he presented a communique of the institute’s 23rd annual tax conference in Kaduna to the Vice-President.
Adedayo said, “Arising from deliberations and a charge from his excellency, the Governor of Kaduna State, Mallam Nasir El-Rufai, CITN is working on a strategy document which would be concluded shortly towards addressing these salient issues: ways and means of taxation of the informal sector; taxation of agriculture at the farm gates; scale-up capturing tax identification records; and how to tax global technology companies.”
He urged the Federal Government to address its low revenue through improved tax collection method.
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He said the Nigeria Economic Sustainability Plan as well as the measures implemented was a right response to the challenges posed by COVID-19 pandemic.
According to him, the plan is instrumental to creating buffers for the government at all levels in withstanding the pressures and waves created during the peak period and the aftermath of COVID-19.
Adedayo said, “However, it must be appreciated that our revenue levels are still quite low to create the necessary funds to undertake meaningful development.”
