Multiple Taxes Hurting Businesses, Expert Tells FG
A logistics and supply chain expert has called on the Federal Government to urgently address the burden of multiple taxes and levies imposed on businesses, warning that the practice is stifling growth and discouraging investment across the country.
The expert noted that companies, particularly in the logistics, manufacturing, and retail sectors, are often subjected to overlapping taxes by federal, state, and local government authorities, significantly increasing the cost of doing business. According to him, these charges are passed on to consumers, contributing to rising prices and inflation.
He explained that multiple taxation weakens competitiveness, reduces profit margins, and forces some businesses to scale down operations or shut down entirely. Small and medium-scale enterprises (SMEs), he added, are the worst affected, as many lack the financial capacity to absorb the extra costs.
The expert urged the Federal Government to harmonise taxes, eliminate illegal levies, and strengthen regulatory oversight to create a more business-friendly environment. He also called for clearer tax policies and better coordination among tiers of government to prevent harassment of businesses.
He stressed that addressing multiple taxation would boost productivity, encourage investment, create jobs, and stimulate economic growth, urging the government to act decisively in the interest of the economy.
