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on August 8 and tasked with various aspects of tax law reforms, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.
“The committee has presented its reports to the President with key recommendations to address critical economic issues ranging from exchange rate management, the impact of fuel subsidy removal, moderation of inflation, and facilitating economic growth,” the tax expert said.
Reforms of Withholding Tax Regulations to ensure simplicity and ease the pressure on working capital of businesses. Expand the official foreign exchange market to incorporate BDCs, forex apps and retail FX dealers, and outlaw transactions in the black market.Imposition of excise tax on foreign exchange transactions outside the official market.
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