Wale Edun: 10% tax-to-GDP ratio shows Nigerians don’t pay taxes

, finance minister and coordinating minister of the economy, says Nigeria’s tax-to-gross domestic product ratio is low because citizens are not paying their taxes.

The flurry of reforms that has dotted the incumbent administration — especially on the monetary side — also stretched to fiscal matters of the government.was created in July 2023 — two months after President Bola Tinubu took over — to harmonise taxes and coordinate revenue collection. But speaking at the forum, Edun said at 10 percent, the contribution of tax to the country’s GDP is still low.

“As I explained before, it is digitisation, and application of technologies that will take us there more than before. For instance, using an efficient process for assessing, for billing, for collection for monitoring what comes in.“So, we are comfortable that we will be able to, over the next three, four years, double tax revenue as a percentage of GDP. It’s is very low, where it is now even by our African peers.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wale Edun: FG revenue rising, things are moving in right directionWale Edun, minister of finance and coordinating minister of the economy, says Nigeria's economy is moving in the right direction as policies
Source: thecableng - 🏆 2. / 80 Read more »

Food inflation slowing, FG’s revenue up, economy in right direction — EdunThe Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian economy is moving in the right direction as policies of the new administration has started slowing down food inflation.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Tinubu’s government has not borrowed from CBN — EdunThe Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said yesterday that the Federal Government would pin down Ways and Means to deal with the problem of too much liquidity in the system
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Reforms growing Nigeria’s economy, Edun tells investorsThe Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has told global investors that the bold reform policies being initiated by the President Bola Tinubu administration has set the country on a firm path of accelerated economic growth.
Source: vanguardngrnews - 🏆 5. / 75 Read more »