Business
Tax Laws Harmonisation ’ll Eliminate Multiple Taxation
A chartered banker in Port Harcourt, Mr Mark Egba has said that the harmonisation of tax laws by all tiers of government would eliminate the incidence of multiple taxation.
Egba, who disclosed this to The Tide in Port Harcourt in a chat, Wednesday said that many organisations have suffered so much from the effect of multiple taxation, which in turn has affected their businesses.
He defined multiple taxation as a situation where the same tax base is taxed more than once by different jurisdictions, pointing out that this was affecting the economy of the country.
Egba who is an officer of the Growth and Employment in States (GES) which is a project funded and managed by Adam Smith International, and is involved in improving the business environment in Nigeria through tax harmonisation in the various states, urged the Joint Tax Board to intensify efforts to curb the incidence of multiple taxes.
The financial expert, who has a specialisation in taxation, stressed the need for the Federal Government to review the existing laws and ensure compliance with the provisions of the constitution on tax matters by all.
He said “the best way to handle multiple taxation is to review the existing tax laws at all levels of government to close up loopholes in existing laws.”
According to him, there should be harmonisation of tax laws among all tiers of government to eliminate clearly overlapping collections of same or similar taxes and levies.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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