What Is Tax Reform Commission And What Are The Roles And Duties Of This Commission?
Answer:
It is worthwhile to mention here that in 1985 the government set up a national tax redeployment commission to suggest ways and means to improve the existing structure of taxation laws within the country. The commission consisted of members of senate and national assembly, high government official and renowned industrialists. Terms of reference of the commission wee as under:
To review and evaluate the existing tax structure to identify the needed areas of reform from the point of view of resource mobilization, economic and social equity and simplicity of law administration and procedures.
To recommend a plan of action for expanding the domestic base of taxation and for ensuring that rates revenues grow faster than the growth in nominal gross domestic product.
To recommend restructuring of the existing taxes with the object of disturbing the burden of excise according to capacity to pay, providing appropriate protection to domestic industry and encouraging saving and investment contained by the economy.
To propose a new integrated tax system surrounded by the light of the above stated principles with a justification go together between direct and indirect taxes and with particular attention to comprehensive tariff reforms taxation on luxury consumption agriculture taxation and user charge for public service.
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