The Federal Government’s push to raise Nigeria’s tax-to-GDP ratio has shifted attention to an area where taxation and investment incentives often collide, as the Office of the Tax Ombud and the Oil and Gas Free Zones Authority move to address tax and fee-related disputes that could discourage investors.
The two agencies have resolved to explore inter-agency collaboration aimed at making Nigeria’s oil and gas free zones more attractive to foreign and local investors by providing an independent channel for resolving complaints over taxes, levies, regulatory fees, customs duties and excise matters.
The proposed partnership was disclosed during a courtesy visit by the Tax Ombud and Chief Executive, Dr John Nwabueze, to the OGFZA on Wednesday, according to a statement issued on Thursday by the Chief Press Secretary to the Tax Ombud, Chukwudi Achife.
The move comes as the Federal Government seeks to expand tax revenue without undermining its broader drive to attract foreign direct investment and stimulate private-sector activity.
The statement partly read, “As part of efforts to increase Nigeria’s tax-to-GDP ratio, the Office of the Tax Ombud and the Oil and Gas Free Zones Authority have resolved to explore inter-agency collaboration aimed at attracting more foreign direct investment into the country’s oil and gas free zones by addressing tax and fee-related grievances through effective and efficient mediation services provided by the country’s foremost tax dispute-resolution institution.”
