Lawmakers seek bill against multiple taxation of small and medium enterprises in Akwa Ibom

Representative Asukuo Udo, representing Akwa Ibom State House of Assembly, Ikono State Constituency, has called on the House of Representatives to provide legislative support for the issue of multiple taxation of small and medium enterprises operating in the state.

While pointing out the negative effects of multiple taxation on the growth of small and medium-sized enterprises, the lawmaker called for tax harmonization for a more friendly business environment.

Mr. Udo, who launched a motion to notify Congress, said that within a year, small and medium-sized businesses and average shop owners will have to pay taxes ranging from personal income tax, value-added tax, withholding tax, environmental sanitation fees, fire service fees, and retail sales. He regretted having to pay the surcharge. In addition to paying permits, trade permits, development taxes, market taxes, income taxes, radio and television licenses, signage, liquor licenses, mobile advertising, food handling, premises inspections, and other taxes and levies, the government Imposition of on various tiers and institutions. Huge rent, utilities, salaries, and other costs of maintaining a small business.

He noted that this issue could reduce the country’s entrepreneurship, economic competitiveness and ease of doing business.

He therefore requires the House Appropriations, Finance, and Public Accounts Committees to work with interstate revenue agencies, local government tax authorities, and other relevant tax collection agencies in the state for the purpose of integration and harmonization. I appealed to the chairman. Resolving areas of multiple taxation of businesses within the state and directing tax collections to a single agency rather than disbursing them to multiple agencies.

“As we are aware, in order to improve the state’s IGR through taxes, we also need to develop policies to carry out these activities in ways and manners that do not burden the business of our citizens. .” He said.

In his contribution, Deputy Speaker Kuhlebasi Edidem explained that it is impossible for small and medium-sized enterprises to survive on multiple taxes and called on the House to intervene and stop the situation for a better future.

In his submission, Chairman Udeme Otong condemned the problem of multiple taxation and its huge impact on business, but called on the Joint Committee on Finance, Expenditures and Public Accounts to conduct a detailed investigation, and asked for similar issues. A motion was submitted to report the contents to the Diet. Home in a week.

Source: dailypost.ng