Economy & Politics: Nigeria Needs to Rethink Digitization of Its Tax Administration - Yomi Olugbenro
This edition of the Economy and Politics show features Mr. Yomi Olugbenro, Partner and West Africa Tax Leader, Deloitte as he speaks on "Nigeria's Tax Administration and Economic Stability".
According to him digitization will go a long way in addressing low tax penetration, boost revenue and support the economic stability in Nigeria.
He lauded the Finance ACT 2020 which has made provisions for the deployment of technology in improving tax administration, which should engender innovation in the collection and aggregation segment.
Yomi Olugbenro made a strong case for linking the National Identity Number, National ID Card, and even the Voters card to the Tax identification number.
Looking at the prospects of widening the tax net in the country, he agreed that a lot has to be done in integrating the informal sector into the tax database, but harped on the need to deepen penetration in the formal sector.