Implementation measures under the National tax policy
In My Country, The Federal Ministry of Finance has a pivotal role to play in the development and implementation of the tax policy.
Accordingly, the ministry shall take appropriate steps to ensure that it receives cooperation from the following:
(a) The President and governors The president and governors shall ensure that budget speeches and presentations for the fiscal year consistently contain the overriding fiscal policies and summary statements of the expected tax revenue.
This will give key stakeholders a sense of what government plans to do and enable them to plan accordingly.
The president and governors should work towards ensuring that there is only one revenue agency per level of government. This would streamline revenue administration and improve efficiency of revenue collection. Ministries, extra-ministerial departments and agencies other than tax authorities should not become tax collecting bodies.
The executive shall sponsor a bill for the establishment of a tax court as an independent body to adjudicate in tax matters. (b) Legislature The consideration and passage of tax bills have not fared well within the existing finance committee of the National and state houses of assembly.
The National and state houses of assembly are encouraged to establish a taxation committee to focus on tax matters and collaborate with the tax policy implementation committee.
There shall be an establishment Act for the Joint Tax Board towards strengthening and repositioning it to contribute meaningfully to the development of the Nigeria tax system through broader mandate beyond its current advisory role.
In My Country, The Federal Ministry of Finance has a pivotal role to play in the development and implementation of the tax policy.
Accordingly, the ministry shall take appropriate steps to ensure that it receives cooperation from the following:
(a) The President and governors The president and governors shall ensure that budget speeches and presentations for the fiscal year consistently contain the overriding fiscal policies and summary statements of the expected tax revenue.
This will give key stakeholders a sense of what government plans to do and enable them to plan accordingly.
The president and governors should work towards ensuring that there is only one revenue agency per level of government. This would streamline revenue administration and improve efficiency of revenue collection. Ministries, extra-ministerial departments and agencies other than tax authorities should not become tax collecting bodies.
The executive shall sponsor a bill for the establishment of a tax court as an independent body to adjudicate in tax matters. (b) Legislature The consideration and passage of tax bills have not fared well within the existing finance committee of the National and state houses of assembly.
The National and state houses of assembly are encouraged to establish a taxation committee to focus on tax matters and collaborate with the tax policy implementation committee.
There shall be an establishment Act for the Joint Tax Board towards strengthening and repositioning it to contribute meaningfully to the development of the Nigeria tax system through broader mandate beyond its current advisory role.
