Business
RIRS Debunks Double Taxation Rumours
The Rivers State Internal Revenue Service (RIRS), has debunked rumours that the service engages in double taxation in the state.
Chairman of the service, Mr Adoage Norteh made this clarification in a chat with journalists in Port Harcourt, last Saturday.
Norteh alerted the public on the activities of fake tax collectors and warned that the unsuspecting public should be careful.
He explained that staff of RIRS who embark on tax collection drive, usually do not wear RIRS branded apparels nor badges and advised that anyone so caught should call for help or alert the police.
According to him, “RIRS does not collect taxes wearing vests, when you see somebody wearing branded clothes, he is not from our service.”
Norteh explained that the RIRS operates a verifiable, discernable process of demand notices, saying, “we have a discernable thoroughly verifiable processes of demand notices and most times, these people collect cash. When someone comes and he is asking for cash, he is not a staff of internal revenue. You may alert our office or even call in the police.”
He used this opportunity to announce that the RIRS was taking steps to include the informal sector in the state in paying tax.
He said: “everybody is expected to pay tax, we are going into the informal sector we shall engage all the trade groups, all those not on the structural sector and we shall categorise the informal sector into structured and non-structural.
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Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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