Moghalu disagrees with IMF’s call for tax increase (

Moghalu disagrees with IMF’s call for tax increase

Trust must be restored in a verifiable manner, with increased transparency.

In its latest Fiscal Monitor titled On the path to Policy Normalisation released last week during its joint spring meetings with World Bank, IMF said that Nigerias debt is projected to keep rising and that necessary steps must be taken to generate needed revenues.

In general, what we are saying about Nigeria is the need for a mediumterm plan to reduce debt vulnerabilities over time and it is because Nigeria has very low tax revenues.

Finally, we should end the regime of waivers that give wealthy businesses trillions, Moghalu said on Twitter.

Tax breaks.

And then we need to consider a Wealth Tax where the extremely wealthy pay their fair share as is the case in developed countries.

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