Hello, Mr Taxman!

October 2007 | Ratings Update

President Umaru Yar'Adua announced on September 17 that he will put forward a revised tax reform bill to the national assembly. Despite failing to provide an exact timetable for implementation, Yar'Adua highlighted that the reforms will aim to make Nigeria's tax system more transparent and lower the burden on the private sector by reducing the scope for duplicate taxes. In our view, if the administration manages to push forward the reform proposals, the amendments will bode well for private sector growth, as well as for diversifying Nigeria's government revenue sources, which remain highly dependent on the country's oil receipts.

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