The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has insisted that the Federal Government is not planning to increase taxes.
Udoma, who was speaking in a statement signed by his Media Adviser, Akpandem James, on Monday in Abuja, said the government was working on increasing its Internally Generated revenue.
Responding to a comment by Senator Ben Murray Bruce at a public hearing of the Joint Session of the National Assembly on the 2017 Budget, the Minister said: “a view has been expressed that we should not increase taxes, that we should broaden tax collection instead, that is precisely what is in the budget.
“There is no increase in VAT, there is no increase in company’s income tax, there is no increase at all in taxes, but people who are not paying taxes must be made to pay.
“So the idea is to increase revenue by broadening the tax base, not by increasing taxes.”
Udoma also stated that the FG was consulting with the private sector to develop the Economic Recovery and Growth Plan.
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