…UNILAG holds First Bank Samuel Asabia Professional Chair inaugural public lecture
Accountability and transparency in governance are essential to boosting tax compliance among informal economy, and small and medium-sized enterprises (SMEs), Kenneth Amaeshi, guest lecturer at First Bank Samuel Asabia Professional Chair inaugural public lecture has said.
Amaeshi, a global expert in sustainable finance and economic development, speaking on the theme: “Ethical Paradoxes, Small Businesses, and Informal Economy..” at First Bank Samuel Asabia Professional Chair in Business Ethics inaugural public lecture organised by the University of Lagos (UNILAG) in collaboration with Department of Business Administration, Faculty of Management on Thursday, said, “Corporate taxation is often driven by divergent interests between businesses and government, and always been a vexing concern for both.
“While businesses are profit-driven, governments pursue social welfare; in some cases, both interests can be reconciled through regulation.”
However, he stressed that there are loopholes in tax laws and regulation, which tend to kill entrepreneurs’ tax morale and compliance. This, he buttressed through Peter Barron statement, “Governments made tax law, the tax authorities independently enforce the law, and Google complies with the law,”, stressing lack of transparency and accountability in law regulation.
