President Goodluck Jonathan has disclosed that his administration’s transformation agenda will be driven by reliance on tax revenue for the provision of developmental projects rather than oil.[/size]
Speaking at the 14th Annual Tax Conference of the Chartered Institute of Taxation (CITN) in Abuja yesterday, President Jonathan stated unequivocally that "Taxation is the sure way to go towards accumulating the resources required for economic transformation."[/font][/size]
According to President Jonathan, "the inevitability of taxation as a tool for economic transformation cannot be over emphasised, most especially when resources needed to carry out development projects are scarce and inadequate to cover all the areas requiring attention."[/font]
[/size]Nigeria’s dependence on revenue from oil over the years he said has worsened the situation, a development which he said "accounts for government’s efforts in recent times to change the tide by encouraging productive activities in other sectors of the economy."
[/size]To defend government’s action President Jonathan noted "there is no better time to do so than now, considering the volatility of oil prices, which has made it even more imperative for diversification of the national revenue scope. We have to make sacrifices with respect to securing the future of Nigeria. Taxation is the sure way to go towards accumulating the resources required for economic transformation."
[/size]The cardinal objectives of this administration he insisted is "to diversify the nation’s sources of revenue by strengthening the country’s tax system in order to reduce, if not eradicate, over-dependence on oil revenue, the achievement of the government’s objective of widening the tax base for improved revenue collection through voluntary compliance in line with international best practices will be enhanced through cooperation with and support of the institute."
[/size]Sustainable tax education and public enlightenment programmes the president said, would complement government efforts in this direction. He called on all stakeholders in the taxation system to embark on tax payer sensitisation exercise, in order to draw attention to the citizen’s rights and duties as tax payers under the tax laws.
[/size]In his remark Mr. John Femi Sunday Jegede, President of CITN said the institute has viewed with serious concern the security challenges facing the country. He said that CITN was "worried over the continuous loss of lives in northern parts of the country and hereby call on the federal government to as a matter of national urgency ensure that steps are taken to guarantee the safety of lives and properties throughout the nation."
[/size]To address this problem, the CITN president called on the government to resolved the problem of insecurity in the country through dialogue "quickly as non-timely resolution could scare away foreign investors."
[/size]On unemployment in the country, Jegede advised government to mandate the ministry of labour to open registers for the unemployed school leavers and come up with reliable statistics, which would form the basis of addressing the menace.
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TheNation