NAN-HE-4
Taxation
Kano, Dec. 29, 2016(NAN) Halliru Godel, a member of the Association for the Emancipation of Rights of Small Scale Industrialists(AERSSI), has called for overhauling of taxation system in Nigeria to fast track economic development.
Godel told the News Agency of Nigeria (NAN) in Kano on Thursday that taxation would play a crucial role in the development of the Nigerian economy if properly harnessed.
“Taxation serves as a source of employment generation and innovation as well as economic consolidation, which alleviate poverty and enhance national growth.
“It is one of the factors that constitute small businesses; when a business flourishes, the economy flourishes as well,” he said.
Godel said that despite the imposition of tax regime by the government on personal income earners, companies, importers, exporters and inventors, “it is being considered as voluntary contribution and not an obligation’’.
He said that business and tax policies were interrelated, adding that if one was affected, the other would also be affected.
“An economy based on favourable and progressive tax laws and policies will definitely prop up healthy business transactions and make organisations to survive,” he said. (NAN)
BO/FLP/MO
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Edited by Folorunso Poroye/Morayo Omolade