Nigerian Tax Expert Emphasises Building Resilient Tax Systems at ATAF Annual Meetings
In his presentation, Oyedele emphasized the need for a robust tax system that can adapt to the constantly evolving global economic landscape.
CAPE TOWN, South Africa — Taxation plays a vital role in fostering economic resilience and sustainable growth amid global uncertainties, according to Taiwo Oyedele, Chairman of Nigeria's Presidential Fiscal Policy and Tax Reforms Committee, writes Winston Mwale.
Oyedele delivered a presentation on "Building Resilience Through Domestic Revenue Mobilisation" at the inaugural session of the annual African Tax Administration Forum (ATAF) meeting in Cape Town, South Africa, on Tuesday.
In his presentation, Oyedele emphasized the need for a robust tax system that can adapt to the constantly evolving global economic landscape.
He also highlighted key strategies for constructing a resilient tax system, including modernization, the use of technology, alignment with the global economic landscape, and international cooperation.
Oyedele concluded by reiterating that a resilient tax system is not merely a revenue collection mechanism, but a fundamental building block for a nation's economic resilience and sustainable growth.
The session aimed to explore the role of a robust tax system in providing a shield against global uncertainties and establishing the groundwork for sustainable economic growth.
Oyedele's presentation brought into focus the vital role taxation plays in fostering economic resilience.
In his presentation, Oyedele underscored the significance of developing a tax system that can adapt to the constantly evolving global economic landscape.
He emphasised that such a system should serve as a dependable safeguard against unpredictable economic challenges.
"Robust tax systems are not just about revenue generation; they are about ensuring a nation's ability to withstand economic shocks, foster stability, and promote sustainable growth," Oyedele asserted.
He further highlighted that an effective tax system should be designed to provide stability and adaptability, helping nations navigate uncertain times.
Oyedele's presentation also laid out key strategies for constructing a resilient tax system.
He emphasized the need for modernization and the use of technology to enhance tax collection and administration. Furthermore, he stressed the importance of ensuring that tax policies align with the evolving global economic landscape.
"A resilient tax system must be flexible and agile, capable of responding to changing circumstances and global shifts," Oyedele noted. "It should be founded on principles of transparency, fairness, and efficiency."
He also discussed the significance of international cooperation and information sharing in addressing tax-related challenges in an increasingly interconnected world.
Oyedele concluded by reiterating that a resilient tax system is not merely a revenue collection mechanism but a fundamental building block for a nation's economic resilience and sustainable growth.
The session provided a platform for valuable insights and discussions on the vital role of taxation in fostering economic stability and growth amid global uncertainties, setting a tone for the remainder of the ATAF Annual Meeting.