Cislac cautions fg long term corporate tax incentives
It seems like you're referring to a news article or a report from the Centre for International Studies and Liaison (CISLAC) cautioning the Federal Government (FG) against long-term corporate tax incentives.
For those who may not be familiar, CISLAC is a non-governmental organization that focuses on promoting good governance, transparency, and accountability in Nigeria.
According to the report, CISLAC is warning the FG against granting long-term corporate tax incentives to companies, citing concerns that such incentives could lead to:
- Loss of revenue: The organization fears that granting long-term tax breaks could result in significant revenue losses for the government, which could compromise its ability to fund essential public services and infrastructure projects.
- Unfair competition: CISLAC is concerned that long-term tax incentives could create an uneven playing field, where some companies are given preferential treatment, while others are not. This could lead to unfair competition and undermine the competitiveness of local businesses.
- Lack of transparency and accountability: The organization is worried that long-term tax incentives could be used to facilitate corruption and lack of transparency, as companies may not be held accountable for how they use the incentives.
- Inequitable distribution of benefits: CISLAC is concerned that long-term tax incentives may not benefit all stakeholders equally, with some companies and individuals potentially benefiting more than others.
In response to these concerns, CISLAC is recommending that the FG adopt a more balanced approach to taxation, one that balances the need to attract investment with the need to ensure fairness, transparency, and accountability.
What do you think about this issue? Should the FG grant long-term corporate tax incentives, or should it adopt a more balanced approach to taxation?