Nigerian Communications Commission (NCC) has said multiple taxation impedes the development of the telecoms industry and national economy.
Adewolu Adeleke, Executive Commissioner, Stakeholder Management of the NCC, stated this while delivering a keynote address yesterday in Kano, at the Regional Stakeholders Workshop on Multiple Taxations and Regulation.
The Executive Commissioner was represented by Director Compliance Monitoring and Enforcement, Efosa Idehen, at the one-day event with theme: “Navigating the Landscape of Multiple Taxation and Regulations, Fostering Sustainable Growth through Collaboration”.
According to him, multiple taxation and regulations are impacting negatively on the growth of telecoms infrastructure on which all other infrastructure making up digital economy depend.
“The many irregulars, often duplicated and sometimes hastily posed taxes and charges which some agencies pursue for short-term revenue gains, neglecting the greater long-term impacts of their actions on investor confidence, the socioeconomic wellbeing of our people and overall national economic growth,” he said.
Proffering solutions to multiple taxation and regulations, the Commissioner said: “In our view, prioritising comprehensive tax reform will unlock the full potential of the Nigerian economy. These reforms should aim to simplify the tax system, eliminate redundancies, and promote transparency.
“Government at all levels must collaborate to create a harmonised tax structure that foster economic growth rather than stifling it.”
Credit: Guardian
