BEPS – EKAETE HUNTER

“I’d like somebody to get rid of the death tax. That’s what I want. I don’t want to get taxed just because I died. I just don’t think it’s right. If I give something to my kid, I already paid the tax. Why should I have to pay it again because I died?”–Whoopi Goldberg

If the maiden edition of the National Tax Debate was awesome, then the second edition of the annual National Tax Debate definitely upped the ante. The importance of taxation to a Government can never be overemphasised. For anyone who has knowledge of taxation, there is a need to constantly explore the relationship between taxation and every facet of government – political, social, and economic. History shows us that the Aba women riot was a consequence of the imposition of direct taxes on women in the eastern part of Nigeria. Again, the events surrounding the Boston Tea Party and the subsequent American Revolution stemmed from the agitation against taxation without representation. Then, following the exposure of the evils of transfer pricing by big corporations, ordinary citizens have begun to boycott the patronization of certain corporations. In the UK, tax payers protests led to Vodafone shutting down one of its stores. In addition, the boycott starbucks hashtag (#boycottstarbucks) sprang up upon the revelation that Starbucks declared loss to avoid paying corporate tax. Finally, tax rates actually affect consumption and saving habits of tax payers, and if properly controlled, may be used to raise extra revenue for the government without a corresponding increase in the burden on the shoulder of the taxpayers – the luxury tax on private jets illustrates how the government may get back some of its embezzled funds without necessarily increasing the burden on the ordinary taxpayer.

MR FOWLER BABATUNDE - ACTING CHAIRMAN, FIRS — MR FOWLER BABATUNDE – ACTING CHAIRMAN, FIRS

The point being made here is that this annual event is an avenue to trade arguments and view points on tax related issues as they affect Nigeria as a country, and Nigeria in its relationship with other countries. Conversations are taking place every day, and in this particular instance, the youths have decided to be at the fore front. All private stakeholders and the government should pay more attention, everybody must take part. There is more to be done.

THE DEBATE