Index to Nigerian Newspapers

In a move to eliminate multiple taxation, the Presidential Committee on Fiscal Policy and Tax Reforms has proposed the stoppage of 190 taxes choking businesses in the country. The panel presented its "Quick Win Report" to President Bola Tinubu, who endorsed its far-reaching recommendations on tax and fiscal policies during a brief ceremony at the Presidential Villa, Abuja, on Tuesday. The Organised Private Sector, which backed the proposal of the committees blamed states for multiple taxation in the country. The OPS lamented that multiple taxes had compounded the rising production costs, leading to reduced profit margins, supply chain disruptions, and a reduction in consumer spending. Specifically, the telecommunication operators complained that the sector was one of the most taxed in the country with over 40 taxes directed at telecom firms. In response to the toxic business environment, the President inaugurated the fiscal policy and tax reforms in August which was tasked with improving the nation's revenue profile and business environment. Responding to the committee's presentation, the President commended their work and assured them of his support for the review and implementation of key recommendations.