INVESTMENT: ENTREPRENEURS IDENTIFY TAXATION, INSECURITY AS MAJOR CHALLENGES




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Mr Jamel Shahimi, the Managing Director, MFW Dredging Nigeria LtdPORT HARCOURT – Mr Jamel Shahimi, the Managing Director, MFW Dredging Nigeria Ltd, on Thursday said double taxation remained a major challenge in Rivers .

Shahimi made the disclosure in Port Harcourt on at the Rivers Entrepreneurs and Investors Forum (REIF) on the challenges and prospects of the in present day Rivers.

According him, there is improvement in personal income but there is much be done on double taxation encourage entrepreneurs invest in Rivers.

He said the as a matter of economic policy, consider holidays for a defined period encourage both local and investors.

Also speaking, Mr Vincent Furo, the Deputy Treasurer, Nigerian Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), decried calls for investment in the waterways.

Furo said no investor profit conscious would consider investing in the waterways because militancy still a major challenge in the creeks.

“Considering tourism as a new front to invest in, the waterway is a laudable idea but when you do your feasibility study, you will know is a no go area because of militancy,” he said. [eap_ad_2] He urged the to come up a policy that would train, empower and monitor in entrepreneurship to be self employed.

In his contribution, Mr Clement Akanibo, a Consultant, said the issue a challenge to Rivers entrepreneurs, adding that had discouraged new investors to in the .

Akanibo disclosed that failure of the entrepreneurs to know the laws on taxation had also made them prone to manipulations by corrupt tax agents.

According to him, entrepreneurs have the tax list of collections model to be properly educated on what, when and how to pay tax.

“Entrepreneurs’ keep track of business records as this will aid them and the tax agents in resolving deductions to be paid as tax.

“The needs to help in harmonising tax collections the local ; this will eliminate the problems associated tax collections in the local ,” he said.

Earlier, Mrs Onene Oshoko, the Chairman of Internal Revenue Service (RIRS), said a lot of improvement had been made in tax collection by the agency.

Oshoko said that the agency implementing the personal income tax as was their responsibility to ensure that every employed person paid tax.

“We do not have a target to increase income tax of the individuals but our target is to ensure that those who have not been paying their income tax are made to pay voluntarily,” she said. (NAN)[eap_ad_3]