Oruaze urges tax legislation review
Managing Solicitor, TRIAX Solicitors, Moses Oruaze Dickson, has called for the review of the legislative framework for tax and taxation in the country.He made this call while speaking with media correspondents at the yearly tax conference with the theme: Institutionalizing a Tax Paying Culture, which held at the Nigerian Airforce Conference Center Abuja.
According to Oruaze, the last time there was any legislative review of the Nigerian tax laws, was in 1976, which makes these laws obsolete for a progressive society like Nigeria.
He argued that even though Nigeria is not a tax haven, it is easy to do business in the country without paying tax as required. While businesses operating in Nigeria are willing to pay taxes to protect their reputation, the loopholes in the tax laws, create opportunities for these companies to evade taxes without being penalized, he stressed.
Oruaze also emphasized that if legislations are put in place and enforced; this will impact on the taxpaying culture of Nigerians and companies operating within its territory.
Oruaze however, commended the recent efforts by the government to encourage every citizen to pay taxes through the introduction of the Voluntary Assets and Income Declaration Scheme (VAIDS).“It is only when citizens pay tax that they would cultivate the interest to participate in the governance process and hold their leadership to account”, he added.
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