Multidisciplinary and finance expert, Professor Michael Ikupolati has said Nigeria needs an enforcement infrastructure with the political will to implement the Finance Act 2020, if the act is to achieve its intended purposes.What was, What is and What is Expected
Ikupolati, however, noted that the act can be impeded by corruption, bottleneck, policy misrepresentation and policy malfunctioning if not effectively implemented. He further urged that tax administration be improved and digitally driven to make payment process easier. Individuals, private and public workers, and small-scale business owners he added, can benefit from the act’s provisions such as tax holiday and tax self-assessment, self-filing and individual contesting of tax charges.