The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has raised the alarm that businesses will suffer while the economy would retrogress if State governments are allowed to collect value-added tax. Speaking on a live television programme at the weekend, Oyedele recalled that a similar approach was attempted in the 1980s with sales tax, but that the sub-national governments failed to generate significant revenue through it. “By 1999, we were writing the constitution because we now have the 4th Republic. But what we did was to just replicate the…
Read MoreTax Collection System: “Businesses will suffer, economy’ll retrogress if States collect VAT” – Oyedele
