New tax reform: 21 states pass harmonised tax laws as revenue boosts by 27% - Adesokan

The Executive Secretary of the Joint Revenue Board, JRB, Olusegun Adesokan, has disclosed that 21 states person passed the exemplary harmonised taxes and levies instrumentality aimed astatine eliminating aggregate taxation and improving gross medication crossed the country.

Adesokan disclosed this connected Wednesday portion briefing journalists connected the gains of the ongoing taxation reforms successful Abuja, explaining that the instrumentality would simplify taxation postulation and supply a much predictable taxation situation for businesses.

He said the harmonisation initiative, developed successful collaboration with the Presidential Committee connected Fiscal Policy and Tax Reforms, reduced much than 100 antithetic taxes, levies and charges astatine the subnational level to 9 categories.

According to him, the 9 categories see income tax, stamp duty, spot tax, roadworthy tax, the improvement levy, economical improvement levy, yearly levies, idiosyncratic charges and different approved charges.

Adesokan said the instrumentality was designed to code aggregate taxation, inconsistent levies and confusing gross postulation practices that often spot addit...