The President of Calabar Chamber of Commerce Industry Mines and Agriculture, Mr David Etim has called for the harmonization of the multiple taxation in Cross River State. This is even as he noted that it would attract investors to boost the economic growth of the state.
In a recent Radio Broadcast in Calabar over the weekend, David Etim lamented that the state is yet to tap into the maximum potentials due to the harsh business environment and unfairness to investors and their investments.
He stressed that as a result of the harsh economic environment, there has been a surge in the rate of unemployment and under employment.
The Chamber President informed that there are ongoing talks and engagements between the Chamber and the State government on the need to streamline tax collection in the state. He stressed that the reduction of the high taxation in the state would promote a healthy and friendly business environment which in turn will boost small and medium businesses in the state.
According to him, tax mechanism system would lead to efficiency in governance.
While assuring the traders and small business owners of constant engagement with the state government, Etim explained that issues bothering on taxation would top the agenda of discussion with the Governor of Cross Rivers State adding that the state is strategically located in Nigeria to promote International trade just like Lagos State.
Etim however called on the Governor to enforce and implement tax harmonisation at the State and local levels based on legitimate taxes identified by the government .
He also advocated for tax reduction for small business as a form of encouragement adding that the daily permit collection by touts was Illegal.
Etim lamented that the previous administration was unable to handle the issue of multiple taxation ecosystem in Cross River State, calling on the Otu led administration to pay more attention on illicit tax collection.
On the business prospects of the Prince Bassey Otu administration, he noted that Cross River and Lagos are the only states in Nigeria that have three International entry points : namely- Airport, seaport and border post with neighbouring country, pointing out that job creation ordinarily, would have been high because of the numerous potentials.
In his words: "Government can only absorb maximum of 15% of employment and 75% is done by the private sector but when we have issues bothering on multiple taxation then it will discourage investors from employment of labour.
"In a hostile environment like Cross Rivers State , we will begin to see high rate of unemployment and under employment because of the taxes.
"The essence of what the chambers is doing is to engage and advise government on how to tackle and mitigate this multiple taxation and promote harmonisation of taxes.’
“These illegal multiple taxations have created a hostile environment for business and investment to thrive" Etim noted.
No comments:
Post a Comment