“Implement the Steve Oronsanye Report on the reduction and re-alignment of Government Agencies and Parastatals in order to streamline the number of taxes, levies, fees and administrative charges payable to them. ”
Manufacturers Association of Nigeria (MAN) made the call yesterday , among other things it recommended to the federal government to do to help improve the performance of the sector in Financial Year 2019 and beyond.
Industrial Digest learned that under the Federal Ministry of Industry, Trade and Investment , alone, there are 16 agencies and parastatals such as Standards Organisation of Nigeria , Nigeria Export Promotion Council, NEPZA, consumer protection council , among others.
MAN, in its Half Yearly Review of the economy (January -June 2018), released yesterday , also called on the government to
“Commence the implementation of the harmonized taxes and levies project which should be monitored strictly by the Joint Tax Board (JTB) with a view to enforcing compliance by States and Local Governments;
The association with over 3000 member companies, also requested the Federal Inland Revenue Services, to “Expand the tax net to capture the non-tax-paying firms, particularly those operating in the informal sector and not to increase tax burden on the already tax compliant businesses;
“Reduce Company Income Tax (CIT) from the prevailing 30% to 20% to promote higher productivity and employment in the economy;
“Address the challenge of multiplicity and illegal taxes/levies/fees by ensuring that all tiers of Government comply with the Taxes and Levies (Approved list for collection) Act CAP T2 LFN 2004; and reinforce Inter-state relationship in tax administration with a view to harmonizing taxes and levies payable to each State.
“Government should be more interested in result oriented spending with frugality, be more transparent and accountable to assuage the psychology of taxpayers for improved tax compliance.”