{"id":80940,"date":"2021-05-19T23:17:25","date_gmt":"2021-05-19T22:17:25","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=80940"},"modified":"2021-05-19T23:17:25","modified_gmt":"2021-05-19T22:17:25","slug":"why-nigerians-should-be-taxed-more-el-rufai","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/why-nigerians-should-be-taxed-more-el-rufai\/","title":{"rendered":"Why Nigerians should be taxed more\u2013 El-Rufai"},"content":{"rendered":"<div dir=\"auto\">Governor Nasir El-Rufai of Kaduna State has said taxation was one of the ways to raise revenue to effectively run government and provide social services to the people.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The governor who spoke at the Annual Tax Conference of the Chartered Institute of Taxation on Wednesday,\u00a0noted that taxation was the way out of a dwindling oil revenue.<\/p>\n<p>He lamented that Nigeria\u2019s Tax to Gross Domestic Product(GDP) ratio is something in the region of 6 per cent to 7 per cent; one of the lowest in the world, compared to countries that collect up to 20 per cent of GDP.<\/p><\/div>\n<div dir=\"auto\">\n\u2018\u2019In Kaduna state with a GDP of about N2 trillion, we should be collecting about N400 billion per annum as taxation.<\/div>\n<div dir=\"auto\">\n\u201cUnfortunately last year, we collected slightly above N50 billion,\u00a0<a dir=\"ltr\" data-mt-detrack-inspected=\"true\">1\/8th<\/a>\u00a0of what we should be collecting. That means that there is a lot of work to be done,\u2019\u2019 he said.<\/div>\n<div dir=\"auto\">\nEl Rufai pointed out that the situation in Kaduna state is similar to the rest of the country, adding that it is worse in most states.<\/div>\n<div dir=\"auto\">\nThe governor urged the institute to help resolve the issue of revenue collection through taxation, considering dwindling oil revenue.<\/div>\n<div dir=\"auto\">\n\u201cMost countries are planning for a green economy in which oil will not be used at all.<\/div>\n<div dir=\"auto\">\n\u201cSo, we must begin to move away from oil. Oil is neither the answer nor the question that will solve our problems.<\/div>\n<div dir=\"auto\">\n\u201cThe real solution to our problems is better and efficient taxation of goods and services.<\/div>\n<div dir=\"auto\">\n\u201cIn the light of the fact that 75 per cent of Nigeria\u2019s economy is informal, how do we scale up the taxation of the informal sector? I think some progress has been made with Presumptive Taxation, but it is not enough.<\/div>\n<div dir=\"auto\">\n\u201cAgriculture accounts for a large proportion of our GDP. Here in Kaduna state, like any state in the federation, agriculture is the largest employer of labour and the largest contributor to GDP, but it is incapable of being taxed at the farm gate.<\/div>\n<div dir=\"auto\">\n\u201cHow do we tax agricultural production at the farm gate, not at the value-added and processing stage, so that we will be able to widen and broaden our tax net as well as proceeds,\u201d he said.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Governor Nasir El-Rufai of Kaduna State has said taxation was one of the ways to raise revenue to effectively run government and provide social services to the people. The governor&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":80941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-80940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Nigerians should be taxed more\u2013 El-Rufai - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/why-nigerians-should-be-taxed-more-el-rufai\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Nigerians should be taxed more\u2013 El-Rufai - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Governor Nasir El-Rufai of Kaduna State has said taxation was one of the ways to raise revenue to effectively run government and provide social services to the people. 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