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EN
FIRS clarifies borrowing plan, confirms new tax regime from January
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The Guardian Nigeria News – Nigeria and World News
However, manufacturers have expressed disappointment over the imminent introduction of a Tax Stamp system for excisable goods.
While the efficacy of this measure is yet to be validated, findings indicate that tax stamps portend significant adverse implications without tangible benefits.
“Ultimately, high logistical costs and risks associated with tax stamps primarily benefit the vendor, not the government or industries.
Internationally, he noted that the United Kingdom recently reformed its tax stamp regime, recognising it as outdated, costly, ineffective and confusing for businesses.
“Tax stamps are only effective in limited contexts with a very strong enforcement capacity and government subsidies.
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