FG's tax reforms "the best" for the country- Kente

From Nick Yashi, Jalingo

Multi-billionaire business man and philanthropist, Chief David Sabo Kente, has described the current tax reforms in the country as being capable of improving the welfare of the people and bringing about development in the country. 

Kente, while fielding questions from journalists to mark his 60th birthday in Wukari, also stated that despite the increase in the tax rate, the Nigerian tax system was still very friendly. 

He stated: "i am a fellow of the Institute of Taxation of Nigeria. I represented the National Assembly in the Joint Tax Board. I can tell you, it is the best tax system being introduced.

"Nigeria is a country that doesn't pay tax. I was part of the team that went to Canada to study this system. When we got to Otawa, it is something else. Will you forfeit 28 to 30 per cent of your salary as tax? That is what they do there!

"Even the current reforms are very friendly. In the UK, the company income tax is 40 per cent. In Nigeria, we are paying 30-32 per cent. So the Nigerian tax system needs reforms. 

"Revenue has improved tremendously. States are getting a lot of revenue except that the stealing continues. Other wise, we are suppose to have improvement in our infrastructure. But you know, when it is a new government, you have a new set of 'armed robbers'. With time, we would see the results". 

According to the ex-APC governorship aspirant in Taraba, the recent concession of the Wukari-Jalingo-Numan road by the federal government was the right way to go. 

He stated: "I think they have gotten a contractor who would build, operate, recover and transfer. In developed countries, the government facilitates the construction of roads by bringing companies who would build, operate and transfer". 

Kente added that the recent hardship Nigerians faced was the necessary sacrifice for a better future for the country.

He concluded: "if you want to enjoy your investment in the future, you need to go through hardship and as time goes on, you will start to get better results. That is exactly what the APC government is doing. They have put in place very difficult measures but you can see now that things have changed. Dollar has moved from N2000 to N1400. There are other reasons why naira has improved-the Chinese holiday which would end by March 15. Prices of foodstuff have gone down".