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Nigeria’s tax reforms unlikely to trigger immediate price increases - BUSINESSDAY
There have been widespread concerns that the implementation of the tax reforms could lead to an increase in the prices of goods and services, resulting in rising inflation. Also, questions have been raised about whether the tax reforms could impact prices. While public debate around the reforms has intensified in recent weeks, analysts say the major transactional taxes faced by households and businesses have largely remained unchanged, limiting the likelihood of immediate price pressures. “Going by the letter of the law, I don’t see there have been widespread concerns that the implementation of the tax reforms could lead to an increase in the prices of goods and services, resulting in rising inflation. Also, questions have been raised about whether the tax reforms could impact prices.
While public debate around the reforms has intensified in recent weeks, analysts say the major transactional taxes faced by households and businesses have largely remained unchanged, limiting the likelihood of immediate price pressures.
