Wednesday, June 16, 2021

Industrialist decries exorbitant taxes, levies


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Governor Willie Obiano

Governor Willie Obiano

An industrialist, Dr Godwin Maduka has called on Anambra government to support indigenous investors in the state by reducing the levies and taxes imposed on them.
Speaking in an interview with the News Agency of Nigeria (NAN), in Umuchukwu Orumba South Local Government Area on Sunday, Maduka said that the reduction would encourage more indigenous investors.
He said that lots of wealthy people from the state who would want to invest back home might be discouraged because of the heavy levies and taxes placed on their business outfits.
“It is good to ask investors to pay levies and taxes as Internally Generated Revenue (IGR) but it should be regulated and given some considerations.
“Government should have in mind the part investors play in the development of the state and job creation so as not to scare them,” he said.
Maduka explained that most investments made by indigenous investors in the state were not generating much as compared to those in big cities with more turnover due to the large population.
He said that if indigenous investors were encouraged to come to their home state to invest, unemployment would be reduced and the rush to big cities would be curtailed.
Maduka said that the state government could drive its IGR by placing reasonable levies and taxes on the investors to attract others into the state.
“If a state is known for imposing high taxes and levies on investors, it will naturally discourage others to come and site their industries in such a state.
“If government is serious about reducing crime, creating employment and increasing its revenue generation profile, it should encourage investors to reposition Anambra state,” he said.
He also called on Anambra indigenes to imbibe the `Think Home Philosophy’ and make the state truly the `Light of the Nation’.

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