Business
CITN Urges Implementation Of Tax Policies
The Dean, Faculty of Direct Taxation, Chartered Institute of Taxation of Nigeria (CITN), Mr Taiwo Oyedele, has called for speedy implementation of the country’s existing tax policies.
Oyedele said in Lagos that this would help in addressing the challenges of multiple taxation and by implication encourage direct foreign investment in the country.
“The implementation of existing tax policies will also make the tax system more vibrant,’’ he said.
Oyedele noted that the approved National Tax Policy (NTP) was still pending at the National Assembly.
“The NTP allows for the harmonisation of some of the existing taxes, and this will help to reduce the burden of multiple taxation on the taxpayers.
“There are so many taxes in the country which need to be harmonised, like the environmental taxes, and this harmonisation will help to reduce the tax burden on people,” he said.
Oyedele urged the Federal Government to improve the tax system to make it competitive with others in the world economy.
“If the tax system is improved, more investors will find Nigeria viable and will be willing to come and do business.
“The indigenous investors will also like to expand their businesses and employ more people and consequently improve the economy,” he said.
Oyedele also urged the federal government to legally empower the Joint Tax Board to enable it regulate the various tiers of government on the taxes each of them could collect.
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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