{"id":300,"date":"2023-07-10T10:50:02","date_gmt":"2023-07-10T10:50:02","guid":{"rendered":"https:\/\/arritoneconsult.com.ng\/blog\/?p=300"},"modified":"2023-07-10T10:50:13","modified_gmt":"2023-07-10T10:50:13","slug":"government-urged-to-tackle-taxation-challenges","status":"publish","type":"post","link":"https:\/\/arritoneconsult.com.ng\/blog\/2023\/07\/10\/government-urged-to-tackle-taxation-challenges\/","title":{"rendered":"Government urged to tackle taxation challenges"},"content":{"rendered":"\n

Government urged to tackle taxation Amidst ongoing policy reforms in Nigeria’s economy, the Nigerian Bar Association Section on Business Law (NBA-SBL) has called on the new administration to tackle the growing issue of multiple taxation and challenges related to policy implementation. The association emphasizes that addressing these concerns is crucial for fostering economic growth and enabling regulated companies to thrive.<\/p>\n\n\n\n

During a courtesy visit to the Nigerian Exchange Limited (NGX), Dr. Adeoye Adefulu, Chairman of NBA-SBL, highlighted the negative impact of multiple taxation on the operations of many listed companies. This burden not only depletes returns on investments but also erodes the capital base of listed firms, leading to potential business collapses.<\/p>\n\n\n\n

Adefulu expressed concern over the lack of clarity regarding tax responsibilities and relationships among the federal, state, and local governments. While there is existing legislation on this matter, it is often not effectively implemented. Adefulu emphasized the need for all tiers of government to collaborate and determine the appropriate taxes and their respective levying bodies. Additionally, he highlighted the issue of multiple levies issued by different regulatory agencies, which often results in conflicting requirements. That Government urged to tackle challenges, the new government must prioritize consistency and rationalization in regulations and taxation.<\/p>\n\n\n\n

Adefulu emphasized that Nigeria continues to struggle with implementation issues and stressed the importance of having capable individuals in key positions to drive effective execution. He also underscored the significance of leadership, stating that when leaders hold individuals accountable and provide guidance, it greatly enhances implementation efforts. A clear vision and timely execution are critical for the success of the new government.<\/p>\n\n\n\n

Furthermore, Adefulu emphasized the importance of partnership and collaboration between NBA-SBL and NGX for the future development of the capital market and the Nigerian economy. The CEO of NGX, Temi Popoola, represented by Jude Chiemeka, Divisional Head of Capital Markets, expressed the exchange’s desire to strengthen its partnership with NBA-SBL, particularly in the area of corporate governance, to create an improved marketplace for all stakeholders. As Nigeria undergoes policy reforms, addressing the challenges of multiple taxation and policy implementation is crucial for creating a favorable business environment and stimulating economic growth. The collaboration between NBA-SBL and NGX aims to promote a robust and transparent capital market while supporting the overall development of the Nigerian economy.<\/p>\n\n\n\n

for more news visit https:\/\/arritoneconsult.com.ng\/blog\/wp-admin<\/a><\/p>\n\n\n\n

for more educational post visit examhood.com.ng<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Government urged to tackle taxation Amidst ongoing policy reforms in Nigeria’s economy, the Nigerian Bar Association Section on Business Law (NBA-SBL) has […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-300","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nGovernment urged to tackle taxation challenges - Arritone Consult<\/title>\n<meta name=\"description\" content=\"Government urged to urged challenges related to taxation, as calls grow to tackle multiple taxation and improve policy implementation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arritoneconsult.com.ng\/blog\/2023\/07\/10\/government-urged-to-tackle-taxation-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government urged to tackle taxation challenges - 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