Taiwo Oyedele, who chairs the Presidential Committee on Fiscal and Tax Reforms, has urged for a reduction in corporate tax rates to encourage investment and boost economic growth. He issued the call during a public lecture that was part of his 50th birthday celebration activities in Abuja.
He emphasized the necessity of a structured tax system to prevent chaotic taxes that have a disproportionate effect on the impoverished. He reiterated that “The tax reform measures include full income tax exemption for over 1/3 of Nigerian workers, higher exemption thresholds for small businesses, and zero-rating essential consumptions.”
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