NCC urges telecoms’ stakeholders to address multiple-taxation challenge
The Nigerian Communications Commission (NCC) has rallied telecommunications’ stakeholders on how to mitigate multiple-taxation challenges hindering Nigeria’s economic growth.
Executive Commissioner for Stakeholders Management at the NCC, Adeleke Adewolu, gave the charge, yesterday, during South-West regional stakeholders’ workshop on multiple-taxation and regulations in Ibadan, Oyo State capital.
Adewolu, while addressing the stakeholders at the workshop with the theme, “Navigating the Landscape of Multiple Taxation and Regulations: Fostering Sustainable Growth through Collaboration,” noted that the presence of numerous taxes, often referred to as ‘nuisance taxes’ by the World Bank, is impeding the country’s development.
He said taxation is a valuable tool for economic development but warned that multiple-taxation could have detrimental effects that can deter development and discourage investment.
He assured the telecoms industry that they are committed to addressing the vexed issue of multiple-taxation that hampers the nation’s growth, adding that the initiatives would create a conducive environment for both local and foreign investments.
Meanwhile, Executive Secretary of ALTON, Gbolahan Awonuga, lamented the burden of multiple taxes, with telecoms firms facing a staggering 49 different taxes and levies despite its apparent profitability.
Awonuga, who urged governments to make the business environment more conducive, emphasised the long-term benefits of such an approach.
Also, Director of Compliance Monitoring and Enforcement, Efosa Idehen, who was represented by Head of Compliance, Isah Olatinwo, said the meeting is to review and implement a workable structure that would ensure that only legitimate tax heads are levied.
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