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More clarity on Finance Act will boost compliance –SWIT

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The Society of Women in Taxation, Lagos State Chapter, has urged tax authorities to do more in analysing the Finance Act to members of the public to aid their understanding of the implications and fac

ilitate compliance.

During SWIT’s annual get-together event in Lagos, she expressed optimism on the outcome of the initiative. While highlighting some of its gains, she said, “Beyond the 7.5 Value Added Tax , the Finance Law will promote fiscal equity by mitigating regressive taxation, reform domestic tax laws and align with global best practices.

She said, “Presently, less than 40 per cent of Nigerians are tax compliant, this is because we do less about tax education to carry Nigerians along.

 

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