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ANLCA seeks N200bn compensation from bank for demurrage

The Nigeria Employers Consultative Association (NECA) claims that the organized private sector in Nigeria faces over fifty forms of taxes.
NECA Managing Director, Mr. Adewale Oyerinde, who disclosed in a statement made available to journalists, said that Nigerian businesses currently face over 50 different taxes, levies and charges at all levels. of government, some of which are duplicated.
In the statement, Oyerinde said additional taxes and a strict regulatory environment were threatening the sector, and it was hampering business and investment.
“Currently, there are more than five different bills in the National Assembly that sought to impose taxes on organized businesses, in addition to notable taxes and levies that are of general application.
“Organized business should not suffer from the lack of proper economic planning and political will that has permeated successive administrations.
“While debt and income scarcity are recognized challenges, organized business should not suffer from the lack of proper economic planning and political will that has permeated successive administrations.
“At last count, organized businesses currently face over 50 different taxes, levies and fees across all levels of government, some of which are duplicated.
“Currently, in the National Assembly, there are more than five different bills, which seek to impose various taxes and levies on organized businesses in addition to the notable taxes and levies that are of general application,” he said. he explains.
According to the DG, these taxes include: National Information Technology Development Tax, Education Tax (or Higher Education Tax), National Social Insurance Trust Fund, corporate income, television and radio license fees, local content tax and stamp duty”.

By: Corlins Walter