Operators task new FIRS boss on VAT, withholding tax on capital market transactions

Capital market operators on Tuesday urged the new Federal Inland Revenue Service (FIRS) chairman to ensure removal of Value Added Tax on capital market transactions to boost investment in the country.

They said this in separate interviews with News Agency of Nigeria (NAN) in Lagos, while reacting to the appointment of Mr Muhammad Nami as the new FIRS chairman.

The operators said that VAT on capital market investments as well as withholding tax on dividends were discouraging investors from the market.

Nami was appointed by President Muhammadu Buhari to replace Mr Tunde Fowler, whose tenure expired on Dec. 9.

Mr Sola Oni, a chartered stockbroker and Chief Executive Officer, Sofunix Investment and Communications, said that Nami must collaborate with market regulators and operators on taxes discouraging people from investment.

“In our capital market, the issue of tax has always been a disincentive to investment.

“For instance, withholding tax on dividend which has become a thing of the past in many markets has suddenly found its way back.

“Besides, VAT has raised dust several times. The challenge is that taxes increase cost of transaction. This is at variance with global best practices,’’ he said.

According to him, tax matter in Nigeria has always been a subject of controversy and not equitable.

“Those who believe that they benefit nothing from the government are always the people that carry the burden.

“The belief is that the very few that control the bulk of economic activities are the tax evaders.

“It is therefore, not surprising that most micro enterprises are always at the mercy of tax authorities whereas they are benefiting nothing in terms of infrastructure.

“In advanced countries, nobody wants to evade tax because infrastructure is provided by the government to create robust enabling environment for businesses to ,’’ Oni said.

Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., called for the removal of VAT on capital market transactions.

Kurfi said that the new chairman should harmonise various taxes in the country for easy administration and better returns.

He urged Nami to map out strategies that would raise the country’s contribution of tax revenue to Gross Domestic Product (GDP).

Also speaking, Mr Moses Igburde, the Publicity Secretary, Independent Shareholders Association of Nigeria (ISAN), urged the new FIRS boss to learn from the mistakes of Fowler.

Igburde said that the new chairman should address issues of multiple taxation and gangster way of collecting taxes from taxpayers.

According to him, FIRS should engage the companies and other tax payers rather than adopting gangster approach.

“FIRS must leverage on technology and modern infrastructure to collect and monitor tax collections,’’ he added.

Igburde charged FIRS to introduce friendly tax policies that would encourage companies to pay their taxes willingly.

He stressed that taxpayers would be willing to pay taxes if government at all levels ensure provision of the needed infrastructure, security as well as ease of doing business.

Mr Boniface Okezie, the National Coordinator, Progressive Shareholders Association of Nigeria, called for the elimination of multiple taxation in the country.

Okezie stressed the need for provision of massive infrastructure across all geopolitical zones to encourage people to pay taxes.

He also called for introduction of tax incentives such as award of government contracts to taxpaying companies to increase tax net.

72 thoughts on “Operators task new FIRS boss on VAT, withholding tax on capital market transactions

  • December 12, 2019 at 1:48 PM
    Permalink

    I needed to send you this very small note just to say thanks a lot over again with the lovely pointers you have contributed above. It was really strangely open-handed of you to provide publicly what a few individuals would’ve offered as an e book to generate some cash for their own end, notably considering the fact that you could have done it in case you wanted. Those concepts additionally acted to be a easy way to comprehend someone else have a similar fervor just like mine to figure out more on the subject of this problem. I’m certain there are thousands of more pleasant occasions in the future for individuals that look into your website.

    Reply
    • January 19, 2020 at 8:28 PM
      Permalink

      Sustain the amazing work !! Lovin’ it!

      [url=http://it.musclemass.space/]http://it.musclemass.space/[/url]

      Reply
  • December 12, 2019 at 5:50 PM
    Permalink

    I have recently started a web site, the info you offer on this website has helped me tremendously. Thanks for all of your time & work. “Quit worrying about your health. It’ll go away.” by Robert Orben.

    Reply
  • December 16, 2019 at 7:53 PM
    Permalink

    [url=http://tetracycline0i0.com/]buy tetracycline[/url] [url=http://levitraf5h.com/]levitra online[/url] [url=http://retinad6j.com/]buy retin-a online[/url] [url=http://sildenafil000.com/]buy sildenafil[/url]

    Reply
  • December 18, 2019 at 1:18 PM
    Permalink

    [url=http://lisinoprila4.com/]buy lisinopril online[/url] [url=http://prednisolonef5h.com/]generic prednisolone[/url] [url=http://albuterold6j.com/]buy generic albuterol[/url] [url=http://valtrex0i0.com/]cheap valtrex[/url] [url=http://lisinopril1s1.com/]lisinopril generic[/url] [url=http://cialis204.com/]buy cialis online[/url] [url=http://viagraf5h.com/]buy viagra[/url] [url=http://xenicald6j.com/]buy xenical[/url]

    Reply
    • January 19, 2020 at 3:41 PM
      Permalink

      Thanks for offering these sort of good subject matter.

      [url=http://nl.t-booster2020.com/site-map/]http://nl.t-booster2020.com/[/url]

      Reply
  • December 19, 2019 at 6:30 AM
    Permalink

    [url=http://albuterold7l.com/]buy albuterol[/url] [url=http://sildenafilf5h.com/]buy sildenafil[/url] [url=http://cafergot0i0.com/]buy cafergot[/url] [url=http://prozacd7k.com/]buy prozac online[/url] [url=http://lexaprof5h.com/]lexapro buy[/url]

    Reply
    • January 19, 2020 at 9:15 PM
      Permalink

      Great website! It looks very professional! Maintain the excellent job!

      [url=http://t-booster2020.com/site-map/]http://t-booster2020.com/[/url]

      Reply
  • December 19, 2019 at 5:42 PM
    Permalink

    Please let me know if you’re looking for a article writer for your weblog. You have some really good posts and I think I would be a good asset. If you ever want to take some of the load off, I’d love to write some material for your blog in exchange for a link back to mine. Please shoot me an e-mail if interested. Thanks!

    Reply
    • January 19, 2020 at 9:12 PM
      Permalink

      Extremely user friendly website. Tremendous information readily available on few clicks on.

      [url=http://dietpills2020.com/]http://dietpills2020.com/[/url]

      Reply
  • December 20, 2019 at 8:40 AM
    Permalink

    Hello! I just would like to give a huge thumbs up for the great info you have here on this post. I will be coming back to your blog for more soon.

    Reply
    • January 19, 2020 at 8:02 PM
      Permalink

      Highly interesting looking ahead to coming back again.

      [url=http://dg-local.co.uk/site-map/]http://dg-local.co.uk/[/url]

      Reply
  • December 21, 2019 at 5:00 PM
    Permalink

    Thanks a lot for giving everyone an extremely memorable chance to read from this blog. It really is so enjoyable plus packed with fun for me personally and my office acquaintances to search the blog a minimum of thrice a week to read through the new issues you will have. Of course, I am also always amazed considering the special knowledge you serve. Selected 1 areas in this posting are undeniably the most impressive we have had.

    Reply
    • January 19, 2020 at 6:49 PM
      Permalink

      Superb internet site you’ve there.

      [url=http://fr.detoxyn.org/]http://fr.detoxyn.org/[/url]

      Reply
  • December 22, 2019 at 5:51 PM
    Permalink

    Its good as your other blog posts : D, thanks for putting up. “Before borrowing money from a friend it’s best to decide which you need most.” by Joe Moore.

    Reply
    • January 19, 2020 at 4:57 PM
      Permalink

      With thanks! It is an astounding web-site.

      [url=http://manga-x.org/]http://manga-x.org/[/url]

      Reply
  • December 22, 2019 at 11:13 PM
    Permalink

    [url=http://prednisolonely6.com/]buy prednisolone[/url] [url=http://valtrex0i0.com/]generic valtrex[/url] [url=http://xenicald6j.com/]xenical online[/url]

    Reply
    • January 19, 2020 at 4:56 PM
      Permalink

      Sustain the good job and generating the crowd!

      [url=http://fr.t-booster.org/]http://fr.t-booster.org/[/url]

      Reply
  • December 24, 2019 at 12:17 PM
    Permalink

    Hi! I just wanted to ask if you ever have any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing a few months of hard work due to no data backup. Do you have any solutions to prevent hackers?

    Reply
  • December 25, 2019 at 10:50 AM
    Permalink

    Hi, Neat post. There’s a problem along with your web site in internet explorer, would check this… IE nonetheless is the market leader and a large part of other folks will leave out your excellent writing due to this problem.

    Reply
  • December 26, 2019 at 9:02 AM
    Permalink

    Nice blog right here! Additionally your website quite a bit up very fast! What web host are you the usage of? Can I am getting your affiliate link for your host? I want my web site loaded up as quickly as yours lol

    Reply
  • December 28, 2019 at 9:52 PM
    Permalink

    Very interesting topic, thanks for putting up. “Ok. Sex is fine. Sex is good. Sex is GREAT Okay, okay, we need men for sex… Do we need so many” by Sybil Adelman.

    Reply
    • January 19, 2020 at 4:13 PM
      Permalink

      Excellent Web page, Preserve the great work. Regards!

      [url=http://azizapublishing.com/site-map/]http://azizapublishing.com/[/url]

      Reply
  • December 29, 2019 at 9:43 AM
    Permalink

    Hi there, I found your site via Google while searching for a comparable topic, your site came up, it appears to be like good. I’ve bookmarked it in my google bookmarks.

    Reply
    • January 19, 2020 at 9:34 PM
      Permalink

      I value the info on your websites. Thanks for your time.

      [url=http://brianjacobson.com/]http://brianjacobson.com/[/url]

      Reply
  • December 29, 2019 at 8:16 PM
    Permalink

    Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is completely off topic but I had to tell someone!

    Reply
    • January 19, 2020 at 8:57 PM
      Permalink

      Great looking internet site. Think you did a great deal of your very own html coding.

      [url=http://speed-com.fr/site-map/]http://speed-com.fr/[/url]

      Reply
  • January 1, 2020 at 10:09 AM
    Permalink

    Hi, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam feedback? If so how do you stop it, any plugin or anything you can advise? I get so much lately it’s driving me mad so any assistance is very much appreciated.

    Reply
    • January 19, 2020 at 6:37 PM
      Permalink

      Thanks with regard to offering this sort of great information.

      [url=http://studentvoicei.org/site-map/]http://studentvoicei.org/[/url]

      Reply
  • January 2, 2020 at 1:16 PM
    Permalink

    I will right away grab your rss as I can not find your email subscription hyperlink or newsletter service. Do you have any? Kindly let me understand so that I may just subscribe. Thanks.

    Reply
    • January 19, 2020 at 5:21 PM
      Permalink

      Thanks regarding giving many of these amazing information.

      [url=http://topsearchengineranking.net/]http://topsearchengineranking.net/[/url]

      Reply
  • January 4, 2020 at 9:14 PM
    Permalink

    [url=http://tadalafilg7.com/]tadalafil online[/url] [url=http://doxycyclined6j.com/]generic doxycycline[/url] [url=http://viagrag8.com/]generic viagra[/url]

    Reply
  • January 5, 2020 at 6:35 PM
    Permalink

    Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research about this. We got a grab a book from our local library but I think I learned more clear from this post. I am very glad to see such wonderful info being shared freely out there.

    Reply
  • January 5, 2020 at 6:55 PM
    Permalink

    Aw, this was a really nice post. In concept I would like to put in writing like this moreover – taking time and actual effort to make an excellent article… however what can I say… I procrastinate alot and not at all seem to get something done.

    Reply
  • January 7, 2020 at 4:22 AM
    Permalink

    certainly comfort generic viagra sales slowly reflection naturally prize generic viagra sales
    slow father such ship online viagra thick wealth [url=http://viagenupi.com/#]generic viagra
    sales[/url] thick judgment generic viagra sales pretty shoe http://viagenupi.com/

    Reply
    • January 19, 2020 at 9:28 PM
      Permalink

      Quite revealing look ahead to coming back again.

      [url=http://mocinfo.org/site-map/]http://mocinfo.org/[/url]

      Reply
  • January 12, 2020 at 1:51 AM
    Permalink

    extra international cheap viagra usa without prescription tourist shake viagra for sale originally device viagra for men online deliberately award [url=http://viacheapusa.com/#]viagra online[/url] almost interview viagra for sale nearby
    mouse http://viacheapusa.com/

    Reply
    • January 20, 2020 at 1:43 AM
      Permalink

      Rather revealing….looking forward to coming back again.

      [url=http://brianjacobson.com/]http://brianjacobson.com/[/url]

      Reply
  • January 12, 2020 at 7:45 AM
    Permalink

    I’m typically to blogging and i really admire your content. The article has really peaks my interest. I’m going to bookmark your website and preserve checking for new information.

    Reply
  • January 13, 2020 at 9:03 AM
    Permalink

    Terrific paintings! This is the type of information that should be shared across the web. Disgrace on Google for no longer positioning this submit higher! Come on over and discuss with my web site . Thanks =)

    Reply
  • January 13, 2020 at 1:27 PM
    Permalink

    I real lucky to find this web site on bing, just what I was looking for : D as well saved to favorites.

    Reply
    • January 20, 2020 at 2:26 AM
      Permalink

      I love the info on your web sites. Many thanks.

      [url=http://www.swift-italia.it/]http://www.swift-italia.it/[/url]

      Reply
    • January 20, 2020 at 6:04 AM
      Permalink

      You’ve very good thing on this website.

      [url=http://t-booster2020.com/site-map/]http://t-booster2020.com/[/url]

      Reply
  • January 14, 2020 at 2:20 AM
    Permalink

    free casino games online [url=http://onlinecasinoswmw.com/#]casino slots [/url] casino blackjack free slots games
    [url=http://onlinecasinoswmw.com/#]online casino [/url]

    Reply
    • January 20, 2020 at 6:00 AM
      Permalink

      Wow cuz this is excellent work! Congrats and keep it up.

      [url=http://topsearchengineranking.net/]http://topsearchengineranking.net/[/url]

      Reply
  • January 15, 2020 at 11:51 PM
    Permalink

    I’d have to examine with you here. Which is not one thing I usually do! I take pleasure in reading a post that may make folks think. Additionally, thanks for permitting me to comment!

    Reply
    • January 20, 2020 at 3:35 AM
      Permalink

      I delight in the info on your website. Thnx.

      [url=http://es.t-booster.org/site-map/]http://es.t-booster.org/[/url]

      Reply
    • January 20, 2020 at 2:56 AM
      Permalink

      The data is incredibly important.

      [url=http://de.cgtribc.org/site-map/]http://de.cgtribc.org/[/url]

      Reply
  • January 18, 2020 at 10:21 PM
    Permalink

    After all, what a great site and informative posts, I will upload inbound link – bookmark this web site? Regards, Reader.

    Reply
  • January 20, 2020 at 5:35 AM
    Permalink

    I love the information on your website. Thanks a lot.

    [url=http://zwickausuche.de/site-map/]http://zwickausuche.de/[/url]

    Reply
  • January 20, 2020 at 8:50 AM
    Permalink

    you have a great blog here! would you like to make some invite posts on my blog?

    Reply
  • January 20, 2020 at 10:03 AM
    Permalink

    you could have an awesome blog right here! would you wish to make some invite posts on my weblog?

    Reply
  • January 20, 2020 at 12:15 PM
    Permalink

    Undeniably imagine that which you stated. Your favourite justification seemed to be at the internet the easiest factor to take into accout of. I say to you, I certainly get irked even as other people think about issues that they plainly don’t know about. You controlled to hit the nail upon the highest and defined out the entire thing without having side-effects , folks could take a signal. Will likely be again to get more. Thank you

    Reply
  • January 20, 2020 at 6:52 PM
    Permalink

    Glad to be one of several visitors on this awe inspiring website : D.

    Reply
  • January 21, 2020 at 10:14 AM
    Permalink

    I went over this site and I conceive you have a lot of superb info, saved to favorites (:.

    Reply
  • January 21, 2020 at 2:07 PM
    Permalink

    Hi would you mind letting me know which webhost you’re utilizing? I’ve loaded your blog in 3 completely different web browsers and I must say this blog loads a lot quicker then most. Can you suggest a good internet hosting provider at a fair price? Thanks, I appreciate it!

    Reply
  • January 21, 2020 at 10:27 PM
    Permalink

    Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2

    Reply
  • January 21, 2020 at 10:37 PM
    Permalink

    I do consider all of the concepts you have presented to your post. They are very convincing and can definitely work. Still, the posts are very brief for novices. May you please prolong them a little from next time? Thank you for the post.

    Reply
  • January 22, 2020 at 4:02 PM
    Permalink

    [url=http://albendazole365.com/]albendazole tablets online[/url] [url=http://celebrexotc.com/]buy celebrex[/url] [url=http://amoxicillincaps.com/]amoxicillin 500mg price canada[/url] [url=http://vardenafill.com/]vardenafil generic[/url] [url=http://avodart24.com/]avodart[/url] [url=http://doxycycline20.com/]doxycycline 100mg[/url] [url=http://lisinoprilhcz.com/]buy cheap lisinopril[/url] [url=http://furosemide1.com/]furosemide for sale[/url] [url=http://sildenafilvg.com/]sildenafil 100mg[/url] [url=http://valtrex24.com/]buy valtrex online[/url]

    Reply
  • January 22, 2020 at 9:18 PM
    Permalink

    Terrific work! That is the type of information that are supposed to be shared around the internet. Disgrace on Google for not positioning this put up higher! Come on over and consult with my site . Thanks =)

    Reply
  • January 23, 2020 at 12:08 AM
    Permalink

    [url=http://clomid150.com/]clomid over the counter[/url] [url=http://vardenafill.com/]vardenafil australia[/url] [url=http://arimidexsale.com/]arimidex brand name[/url] [url=http://zoloft24.com/]zoloft 250 mg daily[/url] [url=http://doxycyclinehycl.com/]where to buy doxycycline over the counter[/url] [url=http://lisinoprilmd.com/]lisinopril 20 mg[/url] [url=http://diflucan5.com/]buy diflucan[/url] [url=http://metformin360.com/]metformin 1000 mg tablet[/url] [url=http://doxycycline20.com/]buy doxycycline online[/url] [url=http://furosemide1.com/]furosemide 20 mg[/url]

    Reply

Leave a Reply

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