Governors in all 36 of the federation’s states, as well as the Federal Capital Territory (FCT), have been tasked by the Chartered Institute of Taxation of Nigeria (CITN) to boost internal revenue (IGR) by emphasizing property tax.
This is all the while the organization pushed for a more refined and effective method of tax collecting throughout the nation.
The president of the institution, Samuel Agbeluyi, stated that many governments are not utilizing revenue streams including property tax, which he claimed can be sufficient to cover some states’ monthly salaries, in remarks made ahead of the CITN 26th Tax Conference, which is scheduled to take place in Abuja from May 13–17.
But he pointed out that in order for states to increase their revenue from property taxes, they must make sure that their revenue boards are independent and that their employees are well-trained.
Declaring that “there should be no coercion,” local government representatives should not bother people while they are driving. Instead of being afraid, people need to be inspired.
Agbeluyi emphasized the value of treating taxpayers with decency and respect, warning against the use of forceful or violent tactics that might be ineffective. He also noted that these practices, which are particularly common at the local government level, not only hurt taxpayers but also impede more general development objectives.
The president of CITN emphasized the need for tax payments at all levels of government but issued a warning against putting an undue burden on those with lesser incomes. He criticized the unworkable practice of taxing investments in various ways without distinction because he thought it may impede economic growth.
Agbeluyi praised the Presidential Committee on Fiscal Policy and Tax Reforms’ efforts to streamline taxes and clean up the tax system. He also noted the difficulties in implementing tax laws at various levels of government and emphasized the need for a coordinated effort to produce results quickly.
He mentioned that important topics including tariff laws, methods for promoting economic growth, and the effect of taxes on the manufacturing sector will be covered in the next conference, which has as its theme “Sustainable Tax Culture and Economic Roadmap for Nation Building.”
He went on to say that he was hopeful the conference talks will help Nigeria develop a more advantageous and long-lasting tax culture. The president of CITN emphasized the steps some governors have taken to comply with the Presidential Committee’s recommendations and lower the amount of taxes collected in their jurisdictions.
He called on state and local government representatives to oppose illegal tax collection methods, highlighting the necessity of tax harmonisation and the significance of upholding taxpayers’ rights and guaranteeing a customer-focused approach to revenue gathering.
In addition to advocating for the autonomy of State Inland Revenue Services to enable more effective tax collection, Agbeluyi called for partnerships with wealthy individuals to increase revenue collection without driving people into poverty. He emphasized the importance of concentrating on sub-national entities in addition to federal efforts for Nigeria’s overall growth and development.