Why must we endure the Taxman?
- Making Wakanda a reality: In case we didn’t notice, Vibranium doesn’t grow in Nigeria. So we have to gather that money!
- Generation of Revenue: Oil money, Oil money. Taxes are imposed to raise money for government. You guessed right – Bulk of revenue of government is gotten from Petroleum Profit Tax.
- Social Engineering: Not all governments are totally sane. One wonders at the sanity of government imposing taxes on naming your child without government consent like in Sweden. Also, the Pro-smoking Tax of China states essentially: ‘Smoke cigarettes or face a fine’. People are thus given a smoking quota such as 400 cartons of cigarettes per year. Beard Taxes, Breast Taxes and Window Taxes have also been collected at some point in some countries. These Taxes imposed to encourage or prevent acts to affect the behaviour of tax payers.
Personally, taxes should be imposed to get the millions of vehicles only fit for the bottom of the ocean off Nigerian roads!
- Control of the Economy: Rise and fall in rate of Tax imposed, Tax incentives, Tax exemptions, Tax holidays, Tax free zones, international and regional treaties among other things can be used to channel investment to certain areas, control inflation, stabilize our exchange rate etc.
- Redistribution of Resources: In Lagos we hear ‘Ambode is working, Lagos is working, Pay your tax.. Eko o ni baje o’. In essence, Ambode is using our taxes to renovate general hospitals, build boreholes, to contract with initiatives like ‘Cleaner Lagos’ who’s work is being seen in places like Obalende, to build better roads and bridges like the Ajah flyover, to pay our scholarships and bursaries, among other things. This is redistribution of income from the Rich to the Poor
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