👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

FinanceNews

‘Tax hike will bring more suffering’

The Nigeria Employers’ Consultative Association (NECA) has cautioned that any attempt by the Federal Government to increase taxes will lead to negative impacts on households, individuals, and businesses.

This was disclosed in a statement by NECA’s Director-General Adewale-Smatt Oyerinde yesterday.


👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Oyerinde said such move would only lead to disaster for an economy struggling to stay afloat.

Other Top Stories:

THE NATION reports that it Oyerinde was reacting to a recent recommendation by the International Monetary Fund (IMF).Information Guide Nigeria

The government increase taxes in order to reduce borrowing. The IMF advised the government to reduce its debt by focusing on increasing the tax basket as a means of generating revenue to cut borrowing.NYSC Portal

THE NATION reports that Oyerinde said: “For a private sector already overwhelmed by multiple taxes, the imposition of additional taxes on services will make the business community more vulnerable with a trade off on growth and job creation.

“More taxes, of course, will weaken the purchasing power of individuals and stifle consumption, with attendant consequences for social cohesion. It may defeat any attempt to widen the tax net as taxpayers would consider tax avoidance measures. There will be massive capital flight, and the drive for direct foreign investment could be defeated.”JAMB Result

Check: JAMB Result

Check and Confirm: How much is Dollar to Naira today

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

 

📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker