Business
FG Inaugurates Committee On Multiple Taxation
The Federal Government
has inaugurated a committee for the implementation of the recommendations for a new tax policy that would permanently address the multiple taxation challenge.
Making this known, Thursday, in Port Harcourt at the 29th Annual General Meeting (AGM) of Manufacturers Association of Nigeria (MAN) Rivers/Baylesa States branch, the President of the Association, Chief Kola Jamodu, said that multiple taxation has impacted negatively on manufacturers in the country.
Represented by the Vice President, Enugu Zone of MAN, Dr F.S.U. Jacobs, the MAN national president explained that he led a delegation of MAN to make a comprehensive presentation on multiple taxes/levies and fees in Nigeria to the National Economic Council (NEC) where all the governors of the 36 states were present.
According to him, MAN vividly captured the nationwide damaging impact of the contentions issue of multiple taxation, levies and fees on manufacturers.
“I am glad to inform you that the Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala on October 21st, 2013, inaugurated a committee for the implementation of the recommendations for a new tax policy that would permanently address the multiple taxation challenges,” he said.
Earlier in her address, the Chairman of Rivers/Baylesa branch of MAN, Mrs Emilia Akpan, stated that the association had lost more than 40 companies that were members of MAN in the recent past, with job loses and attendant social consequences for the society, due to harsh operating environment.
She urged government to create an enabling environment for private sector participation, adding that MAN is a major stakeholder in the economy and also called on the Rivers State government to hasten up the road projects to curb the massive traffic gridlock all over the city and the consequent loss of valuable man hours.
Highlight of the occasion was the lecture presented by Managing Director of Indorama Eleme Petrochemical Company, Mr Manish Mundra, who was represented by one of their management staff, Sir Jossy Nkwocha.
The occasion was well attended by who is who in the manufacturing sector in Rivers State and business community, as well as security operatives.
Corlins Walter