Business
Don Seeks Effective Utilisation Of Taxes
A lecturer at the Nnamdi Azikiwe University, Awka, Dr. Meshach Umenweke, has urged governments at all levels to judiciously utilise taxes to restore public trust in their payment.
Umenweke who made the call at a forum in Enugu recently in a paper on Taxation for Good Governance said that government should ensure that taxes paid by the public were used to improve their welfare.
The don said, “Taxes were paid to assist government in carrying out its social responsibilities. If the government provides the citizens with the necessary social amenities, they would not be forced to pay. The government at all levels should live up to their responsibilities by utilizing taxes.
He said that the judicious use of taxes will restore public trust in government and urged governments to address the menace of multiple taxation which has adversely affected business in Nigeria.
Umenweke also urged the citizens to perform their civic responsibilities by paying their taxes as and when due, stressing that they should be law abiding by fulfilling their obligations and assisting government by paying their taxes on time.
According to him, paying tax gives a person the right to expect good governance from the government and the right to take up case for misappropriation of funds.
In his contribution, Jude Odiukonigbo of the Faculty of law at the University of Nigeria Nsuka, attributed the problem of good governance in the country to corruption.
He said “the government should endeavour to bring back the confidence of the citizens by living up to their responsibility.
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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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