The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 16 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 16 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval



Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Economist says increasing tax rates not solution to growing tax revenue
#1
Economist says increasing tax rates not solution to growing tax revenue

 


                       [Image: Nigeria-Economy.jpg?resize=727%2C465&ssl=1]
Dr Abiodun Adedipe, a member of the Nigerian Economic Summit Group, says that increasing tax rates is not the cure all for growing tax revenue in Nigeria.

Adedipe, also a management and financial consultant, said this at a programme with the theme: “The Drivers, Enablers and Obstacles to Our Growth”, organised by Platform Nigeria in Lagos on Wednesday.

“The situation is like flogging a dead horse. With the research we have made in taxation, we realised that when you raise tax rates, you will only have those in the tax net to bear that burden.

“Rather, we should creatively and innovatively think of how to bring those outside the tax net into the system.

“There is a principle in economics that says people respond to incentives. Our tax system does not provide for redress. If I have any complaint about my tax, there is no window to present such complaint. We have to look into this.

“Also, people willingly pay tax in other parts of the world because the taxes are working in their life. Nigeria needs leaders who are trustworthy, who the citizens can trust with their money and funds,” he said.

Adedipe also suggested how the power problem in the country could be resolved and how to ensure adequate privatisation of institutions.

“In Nigeria today, when we privatise, we only convert public monopolists to private monopolists and so, they deliver no value like we have in the power sector.

“We need to begin to add a clause for adequate capital when we privatise. If our DISCOs do not have the capital to do what they are supposed to do, there is a simple way to get the power sector in Nigeria to work.

“Mandate the DISCOs to meter all consumers in the country. Once they do that the revenue they generate from estimated billing will drop. When this happens, they will sit up and they will realise that providing power to the entire value chain is relevant and critical to their revenue base.

“There are lots of entrepreneurs who want to make money and they will realise that to make money, power needs to be generated.

“That will, however, make the DISCOs not think about only themselves, but how to distribute power adequately to make money from consumers and with this we can solve the power problem,” he said.

Adedipe said that a change of the Nigerian story was in the hands of the elite in the country and not the government.

According to him, the elites are the well exposed but they act on enlightened self-interest and they have access to power but they abuse power.

“The elites take loans and mostly, do not want to repay. There is over N5 trillion on AMCON’s balance sheet, which if we can convert only N2 trillion and put it into funding this economy, we will go some distance.

“They love bailout when their money pots are drying up but make dubious arguments on subsidies that impact the bottom of the pyramid.

“They also earn the most but pay the least taxes and levies and they also know how things should work in the country but pursue enlightened self interest always.

“We need to stop talking ill of Nigeria and walk the talk and act accordingly,” he said.
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  Nigeria’s revenue-to-GDP ratio lowest in the World – World Bank Edoman 0 819 07-27-2021, 02:15 PM
Last Post: Edoman
  MTN Nigeria profit rises, revenue hits N1.35tn Edoman 0 758 03-01-2021, 10:11 AM
Last Post: Edoman
  Onne Customs generates N118.9b revenue Edoman 0 771 01-16-2021, 09:13 AM
Last Post: Edoman
  Airtel announces interim dividend currency exchange rates Edoman 0 797 11-13-2020, 10:12 AM
Last Post: Edoman
  MTN Nigeria Revenue Rises To N100 Billion Monthly In 2020 Edoman 0 793 11-02-2020, 11:56 AM
Last Post: Edoman
  NNPC, FIRS, Customs target N43.5trn revenue in 3 years Edoman 0 785 08-21-2020, 05:52 PM
Last Post: Edoman
  Banks Raise Lending Rates To 30 Per Cent Edoman 0 816 08-04-2020, 11:47 AM
Last Post: Edoman
  We’ve identified plans to generate N18tn revenue – FG Edoman 0 810 07-24-2020, 12:30 PM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise