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    Home»Business Matters»Business & Economy»Lagos State Governor Ambode Proposes New Tax Collection Strategy

    Lagos State Governor Ambode Proposes New Tax Collection Strategy

    Business & Economy By Kunle AtibaJul 15, 2017No Comments2 Mins Read
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    Lagos State Governor Akinwunmi Ambode
    Lagos State Governor Akinwunmi Ambode

    Governor Akinwunmi Ambode of Lagos State has stressed the need for the reinvigoration of the nation’s tax collection machinery with technology in order to improve revenue generation from taxes.

    Speaking in Lagos today at the Voluntary Asset and Income Declaration Scheme (VAIDS) Interactive session for Executive and Business owners organised by PwC’s Business School, Ambode also advocated the need to make the tax payment process more people friendly as well as ensure application of the law when necessary against non-compliance.

    The Governor who was represented by the State Head of Service, Mrs. Olabowale Ademola at the event, noted that it was high time every citizen and all corporate bodies genuinely demonstrated their patriotism and support for the government to implement projects that will turn around the economy for the benefit of everyone.

    See also  Governor Wike Becoming Huge Embarrassment to Rivers’ Collective Interest, Says Peterside

    His words, “There is no doubt about the fact that given all available indices, we can generate much more from taxes than we are currently doing. In addition to the window of opportunity provided for voluntary compliance, which I believe would yield some result; we must re-invigorate our tax collection machinery with technology, make the tax payment process more people friendly and apply the law when necessary against non-compliance.”

    He pointed out that the current tax to GDP ratio of 6% is non-sustainable especially against the background of the fact that the nation cannot rely just on borrowing to finance projects.

    See also  "Our Constitution Empowers Governors to Maintain Law and Order in Their State" ....Gov Dickson

    According to him, “This is the time for every citizen and all corporate bodies to genuinely demonstrate their patriotism and support for the government to implement projects that will turn around the economy for the benefits of everyone.”

    Ambode maintained that tax remains a major source of revenue for financing government programmes all over the world particularly in the developed economies.

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    Akinwunmi Ambode Asset Declaration Government News Income Declaration Lagos State Lagos State News Nigerian News State News Tax Collection VAIDS
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