Chamber of Commerce Laments Over Nigeria's New Finance Bill
Jan 15, 2020 ·
57s
The Lagos Chamber of Commerce and Industry expressed worry over the increase in VAT; even it said that it was inappropriate to compel loss-making firms to pay tax, no matter...
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The Lagos Chamber of Commerce and Industry expressed worry over the increase in VAT; even it said that it was inappropriate to compel loss-making firms to pay tax, no matter how little.
The Director-General, NECA, Dr. Timothy Olawale, noted that overburdening the private sector with taxes would further impoverish the citizens Buhari promised to take out of poverty.
He said, “The government should not see the private sector as a ‘cash cow’ in its drive to raise revenue, as it will do more harm to the already burdened private sector and further impoverished citizens that the president promised to take out of poverty.
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The Director-General, NECA, Dr. Timothy Olawale, noted that overburdening the private sector with taxes would further impoverish the citizens Buhari promised to take out of poverty.
He said, “The government should not see the private sector as a ‘cash cow’ in its drive to raise revenue, as it will do more harm to the already burdened private sector and further impoverished citizens that the president promised to take out of poverty.
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