FG, States, LGs Should Publish Revenue Data, Says NESG
The Nigerian Economic Summit Group has asked the Federal Government, state and local governments to publish data on revenue collection annually in order to develop a sustainable fiscal system for the country.
This was one of the recommendations made by the NESG Fiscal Policy Roundtable where stakeholders deliberated on ways of improving Nigeria’s financial system.
In a 10-point agenda published by the group on Tuesday, NESG said given the economic problems that followed the COVID-19 pandemic, policy, legislative and administrative changes were required to boost the growth and development of Nigeria’s economy.
“On policy, it was recommended that government at all levels should publish revenue collection data annually by type of tax, number of taxpayers and cost of collection,” the group said.
The group called on political leaders, ministries, departments and agencies to comply with tax laws and ensure an improvement in infrastructure for the benefit of taxpayers.
NESG stated, “Political leaders and MDA should be fully compliant with the law and demonstrate this to the public. Taxation should be clearly linked to the provision and improvements in the quality of public infrastructure and social services.”
Stakeholders at the roundtable urged the government to amend the tax laws where necessary to address unclear areas.
They also suggested the amendment of the constitution in order to provide clarity on taxation by the three tiers of government.
According to them, full and effective compliance with tax obligations should be a pre-condition for political office administration.
“On legislation, the FPR believes the government should amend tax laws to resolve ambiguous and draconian provisions, amend the constitution to clarify the taxing powers of various tiers of government to eradicate overlapping jurisdictions that result in multiple taxation,” the group said.
As part of the 10-point agenda, the group urged the harmonisation of the different identity databases.
“On administration, the 10-point agenda recommended the utilisation of one central identification number that harmonises various identities – National Identification Number, Tax Identification Number and BVN,” NESG said.
Stakeholders enjoined tax authorities to promote professionalism and implement continuous training and capacity building for tax officials at all levels.
The group advised tax authorities to ensure full adoption of technology platforms and measurement of the rate of usage by taxpayers as the basis for continuous improvement.