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
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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