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Experts Offer Solutions to Taxation, Corporate Governance in IT

By Peter Ugwu
16 October 2015   |   2:27 am
EXPERTS in tax regulatory matters and corporate governance have joined the Nigerian Communications Commission (NCC) and telecoms providers in seeking palliative measures to the incessant multiple taxation in the industry.

tax-identification-numberEXPERTS in tax regulatory matters and corporate governance have joined the Nigerian Communications Commission (NCC) and telecoms providers in seeking palliative measures to the incessant multiple taxation in the industry.

The experts who spoke to Nigeria CommunicationsWeek during a capability enhancement workshop organised for Journalists in Lagos by PricewaterhouseCoopers Limited (PwC) in Lagos, said that ICT industry requires ‘commencement rate’ kind of taxation, as soothing measure to attract and maintain investors’ confidence in the country.

They are also of the view that corporate governance plays major roles in determining the attitude of service providers towards issues that directly impact their operations.

According to Taiwo Oyedele, partner and head of Tax and Regulatory Services, PricewaterhouseCoopers Limited (PwC), identified lack of understanding among policy makers as contributory factor to the multiple taxation.

Oyedele added that smaller ICT companies are dying in droves due to the improper taxation and infrastructural deficits.

“There is multiple taxation to be honest. It does not affect only the ICT sector; they feel it and manufacturers as well. For the ICT sector, the multiple taxation they face is evident in other sectors. Why there is peculiar is because most people assume they have money. When they here or talk about ICT, what comes to their minds is either MTN, Glo, Airtel, or Etisalat. It is unfortunate they have failed to recognize there are a lot of ICT companies struggling.

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