FIRS Urges Comprehensive Revenue Inclusion To Accurately Determine Nigeria’s GDP - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
December 7, 2021
This, he said, would enable proper determination and accurate computation of Nigeria’s Tax-to-GDP ratio.
He was addressing a symposium organised by the FIRS in collaboration with the Usman Danfodiyo University, Sokoto UDUS.
Nami noted that low Tax-to-GDP ratio was one of the recurring issues in Nigeria’s national discourse and stressed the need to comprehensively bring all the national and sub-national revenue sources into consideration.
He said current basis for computation, which focused on federal tax administration leaving out revenue generated by states, local governments, ministries, departments and agencies did not truly reflect correct Tax-to-GDP ratio.
Nami stressed that FIRS through the Ministry of Finance, must include all governments revenues in accounting for taxes generated to give the correct state of governments revenue.