The major challenges of the Nigerian tax system, which are well documented, include:
Multiplicity of taxes and multiple revenue collection agencies
Largely fragmented, rudimentary, and complex tax system adding to business risk and uncertainties
High cost of revenue administration on the part of government and excessive burden of compliance on the part of taxpayers
Poor accountability and inability to demonstrate efficient utilisation of tax revenue for commensurate fiscal exchange
Growing tax expenditure, erosion of the country’s tax base and arbitrary tax waivers
×
Chat with us