taxes

A recent study entitled AFRAA Taxes and Charges Study Review 2024 has shed light on a significant issue affecting travelers in Nigeria. The report highlights that Nigerians are paying an astonishing average of $180 in taxes and charges for each international flight, a figure that stands in stark contrast to the continental average of just $68. This disparity raises an important question: what does this mean for ordinary Nigerians who wish to explore the world or conduct business abroad? The financial burden,…

The International Monetary Fund (IMF) recently conducted a mission in Egypt, which offered intriguing insights into the nation’s economic landscape. After a thorough assessment, the IMF emphasized a single, pivotal need for Egypt: broadening its tax base. This step is crucial for reinforcing the progress Egypt has made toward achieving greater macroeconomic stability. "Egypt has made substantial progress toward macroeconomic stability," remarked Vladkova Hollar, the IMF Mission Chief for Egypt. Such affirmations from…

In today's complex world, we are witnessing an alarming increase in refugee flows, particularly from regions marred by intense conflicts. The International Monetary Fund (IMF) highlights that these migratory waves often last significantly longer than those caused by natural disasters. This raises a critical question: how can we as a global community better respond to these ongoing crises? A striking observation from the IMF report sheds light on the relationship between natural disasters and migration patterns.…

Fiscal Reform: A Step into a Brighter Future Presenting the budget for 2025 before Parliament is never an easy task. It’s a moment of reckoning, where every number carries the weight of the expectations, ambitions, and hopes of an entire nation. This time around, the spotlight was squarely on the decision to abolish six controversial taxes, aligning with the National Democratic Congress (NDC)’s 2024 manifesto promise. Do promises made pre-election hold the magic they seem to carry, or do they falter under the inevitable…

Taxes, the lifeblood of nations, are the engines driving public services like healthcare, education, and roads, fostering economic growth everywhere. In the vibrant yet resource-strapped landscape of sub-Saharan Africa, adequate public services hinge on tax collection, but obstacles loom large. Kenya's recent tax uproar highlights the friction brewing as folks demand justice in tax policies that evenly spread the fiscal load. Tax collection is a bit of a pickle with small-time businesses and farming galore. Capturing this…

Mogadishu (AX) — Somali President Hassan Sheikh Mohamud has issued a stern warning to enterprising traders trying to dodge the newly imposed sales tax by fiddling with their merchant numbers. During his speech in Mogadishu on Thursday, President Mohamud put his foot down, stressing the gravity of such antics. "Dodging taxes is tantamount to fraud," President Mohamud declared emphatically. "Skirting taxes equates to theft and crime, and there will be consequences. It's unacceptable to alter merchant numbers to sidestep…

Continuation of our series devoted to the Guinean economy during the October 18 presidential election. In Guinea, the "eTax" platform has just been launched to dematerialize the payment of taxes and facilitate taxpayer procedures. Main objectives: combating corruption, but also expanding and securing the tax base. Conakry is thus following in the footsteps of many countries on the continent, which have…