Nigeria is lagging behind in tax administration among emerging markets, according to a survey carried out by a finance and account services firm, KPMG.Nigeria’s tax burden is lower than that of Rwanda, Ghana, South Africa and Botswana.“One of the key reasons for this is the fact that a large proportion of economic activity that is generated by small and medium scale enterprises exist in the informal sector and outside tax net. Although these enterprises have experienced growth over the past decade, government has not captured their earnings in tax revenue due to a variety of compliance and enforcement issues,’ the report noted. Before you make any comments,do you pay your personal income tax?Modern economies are built and grow through taxation of citizens.This is a basic fact,are you aware of it?Or do you imagine that corruption is too big an issue to consider in the face of effective taxation?But theres corruption the world over so-Lets talk.
Posted on: Thu, 31 Jul 2014 08:15:25 +0000
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