Expert advocates internal control mechanism to curb leakages

A tax expert, Mr Efe Ramson, has urged tax authorities to set up internal control mechanisms to checkmate tax leakages in the system. Ramson made the call on Tuesday in an interview in Warri.

He said that the initiative would help to monitor and identify those indulged in such practices.

Ramson said that leakages were a major challenge in the nation’s tax system.

The Warri-based tax consultant said that those caught in the unwholesome act should be punished accordingly.

“Tax authorities should put in place internal control mechanisms to monitor activities of its workers.

“Again, those caught shortchanging the authorities should be dealt with accordingly to serve as deterrent to others,” he said.

Ramson also said that tax evasion was another major challenge in the nation’s tax system and called for improved awareness.

“There is need for periodic sensitisation of the taxpayers on why they should remit taxes promptly.

“Again, revenue from the taxpayers should be judiciously spent to impact on the life of the people,” he said.

He urged the Federal Government to provide some measures of waivers to the investors to stimulate economic growth.

Ramson also appealed to the Federal Government to provide infrastructure and an enabling environment for small scale businesses to reduce unemployment.

He noted that this would widen the tax net, attract more taxpayers into the net and by implication, boost revenue generation.

Ramson, however, said that the nation’s tax system would be healthy with the implementation of the right policies and improved sensitisation.