WHAT DO YOU REALLY KNOW ABOUT VOLUNTARY TAX COMPLIANCE
Does it not surprise you that you have never seen the police arresting people on the street for not paying tax?
Those who grew up in the 50s and the 60s will remember how the district police always harassed male adults when it is time to collect personal income tax.
Every male adult must be going around with their tax papers. If they are not with their tax papers, they would be arrested.
This situation was so tough to the extent that the increase in tax in the 70s led to Agbekoya civil disobedience in the South West.
All these agitations over the forceful collection of taxes led to the introduction of voluntary tax compliance in line with the self-assessment tax regime introduced in Nigeria in 1992 by the Finance Miscellaneous Taxation Decree No 2 of 1991.
Not only that the above stopped forceful collection of taxes but create an avenue for taxpayers to have a say in his or her tax assessment.
To acquaint your self with the processes and the benefits derivable from voluntary tax compliance. CLICK HERE
Yours in enhancing your profitability and growth
J. Taiwo Popoola
P.S. I’d love to know what you think about this article so be sure to post your comments on my blog at the end of the article!
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