• Saturday, May 18, 2024
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FG, states take steps to check multiple taxations

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The Federal Government and states on Thursday took steps to tackle the worrying issue of multiple taxation in the country by setting up a committee to critically assess its negative implications for the economy.

The committee is expected to submit recommendations on how to tackle the fiscal menace for improved performance of the economy.

The committee, which was set up by the National Economic Council and headed by the immediate past accountant general of the federation, Governor Ibrahim Dankwambo of Gombe State, is expected to take a holistic appraisal of the incident of multiple taxation, particularly its threats to corporate entities, and proffer comprehensive measures that could be used to reduce to the barest minimum its manifestations at all levels of the economy.

Disclosing this at the 27th meeting of the Joint Tax Board (JTB) held in Abuja on Thursday, the acting chairman of the Federal Inland Revenue Service (FIRS), Kabir Mashi, said the move was among others being taken by the Federal Government and states to ensure that tax burden on corporate entities is removed and also to improve tax compliance rate in the country.

 

ONYINYE NWACHUKWU