The huge tax burden has no doubt been a clog in the wheel of the overall performance of businesses over the years. There have been numerous fora expressed concern on the escalation of taxes, including exercise duties and its adverse implication on the business operating environment.

Numerous businesses are currently grappling with the challenges posed by rising costs, shrinking profit margins, and underutilization of capacity. These difficulties stem from multiple macroeconomic factors as well as the impact of the Naira redesign policy. One of the main priorities of this administration is to streamline our tax system and its collection methods. The President, in his inaugural speech, expressed his intention to simplify and make the tax system more business-friendly. It is important to recognize that effective revenue management involves more than just tax collection; it begins with our economic policy. The ultimate goal is not to burden the impoverished with taxes.