REITERATING THE NEED FOR ADHERENCE TO THE PROVISIONS OF THE TAXES AND LEVIES (APPROVED LIST FOR COLLECTION) ACT

Abstract

Taxes are a cornerstone of civilization and constitute arguably the most certain and consistent source of revenue for every country. Consequently, their collection is of monumental importance. The Taxes and Levies (Approved List for Collection) Act delineates the different taxes to be collected by the Federal, State and Local Government respectively and this ought to harmonize the collection of taxes. Unfortunately, the provisions of the Taxes and Levies (Approved List for Collection) Act are not always heeded with the attendant problems, among which are multiple taxation and sub-optimal tax collection. That is why this work sets out to review the pertinent provisions of the Taxes and Levies (Approved List for Collection) Act as well as relevant scholarly publications relating to the legislation. It concludes that for a harmonious system, the provisions of the Taxes and Levies (Approved List for Collection) Act have to be scrupulously adhered to.