Minister Tasks Administrators On Improving Tax Revenue Generation - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
November 2, 2022
Minister of State for Budget and National Planning, Clem Agba gave the advice at the Seventh African Tax Administration Forum, General Assembly, in Lagos, with the theme; “Rethinking Revenue Strategies: The Human Face of Taxation’’.
Agba, who was represented by the Statistician-General of the Federation, Semiu Adeniran said statistics indicated that sub-Saharan African countries still mobilised less than 17 percent of their Gross Domestic Product, GDP without revenue.
According to the Minister, this is below the recommended minimum level of 20 percent by the United Nations, UN, as necessary to achieve the sustainable development goals.
According to the World Bank tax revenues, above 15 percent of a country’s GDP is a key element for economic growth and ultimately the option of revenue.
Governor Babajide Sanwo-Olu, of Lagos State, said the state was frequently on the lookout for ways of increasing its internally generated revenue without burdening the existing tax base.
Minister of State for Budget and National Planning, Clem Agba gave the advice at the Seventh African Tax Administration Forum, General Assembly, in Lagos, with the theme; “Rethinking Revenue Strategies: The Human Face of Taxation’’.
Agba, who was represented by the Statistician-General of the Federation, Semiu Adeniran said statistics indicated that sub-Saharan African countries still mobilised less than 17 percent of their Gross Domestic Product, GDP without revenue.
According to the Minister, this is below the recommended minimum level of 20 percent by the United Nations, UN, as necessary to achieve the sustainable development goals.
According to the World Bank tax revenues, above 15 percent of a country’s GDP is a key element for economic growth and ultimately the option of revenue.
Governor Babajide Sanwo-Olu, of Lagos State, said the state was frequently on the lookout for ways of increasing its internally generated revenue without burdening the existing tax base.