FG has no plan to increase taxes – Minister

Minister of budget and national planning, Udo Udoma has said the federal government has no plan to increase taxes.

He said this in a statement signed by his media adviser, Akpandem James on Tuesday.

The minister said the government is working towards broadening its tax revenue base.

According to the statement, Udoma made the clarification while responding to a comment by Ben Bruce, a senator, at a public hearing of the joint session of the national assembly on the 2017 budget.

“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,” he said.

“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 said government has consulted with the private sector extensively on the economic recovery plan.

“We are determined, thereafter, to begin to go back to the path of growth, a more diversified growth, not depending just on crude oil,” he said.

“We want to stimulate our manufacturing sector, we want to stimulate agriculture; so we have a coherent, cohesive plan.”

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