5 days Ago By Guardian Nigeria
•To set up working group on implementation The Economic Community of West Africa States (ECOWAS) Commission has started a crucial meeting aimed at building support for the convergence of national and regional fiscal frameworks, a key requirement for realising the single market agenda. Among others, the meeting seeks to set up a working group on the publication and implementation of the Regional Directives and Supplementary Acts while engaging national representatives on the importance of the roadmap in driving regional economic prosperity. The four-day meeting, which is chaired by Deputy Director of Tax Policy, Nigeria’s Ministry of Finance, Dalhatu Mohammed Kamal, will assess the achievement and deliberate on issues that need to be resolved to secure the support member states for harmonisation of tariff structure and tax frameworks as well as advancing the fiscal and economic integration of West Africa.
The West African Tax Administration Forum (WATAF), West African Union of Tax Institutes (WAUTI), Organisation for Economic Co-operation and Development (OECD), West African Economic and Monetary Union and the World Bank are represented at the Lagos meeting. At the opening yesterday, Director of Customs Union and Taxation, ECOWAS Commission, Salifou Tiemtore, described the robust participation as a demonstration of the “commitment to advancing the fiscal and economic integration” of the region, noting that ECOWAS has recognised that the regional depends on the successful alignment of national policies with regional Directives and Supplementary Acts, which serve as essential instruments for harmonising our tax policies, strengthening fiscal governance. “Despite the significant progress made, we are also aware of the challenges that continue to impede the effective implementation of these instruments.
These challenges, ranging from institutional capacity gaps and competing national priorities to the absence of dedicated structures for coordination are not unresolvable. However, they require concerted and collaborative efforts from all stakeholders. It is against this backdrop that we have convened this meeting,” the director explained.
During the meeting, he noted, the commission would engage in meaningful dialogue on the importance of the regional instruments to ensure that all stakeholders fully understand their purpose and value, discuss the establishment of the National Tax Steering Committee as well as establish a working group tasked with overseeing the publication and implementation of the instruments. Kamal said the meeting provides an opportunity to assess progress made so far by respective member states and proffer solutions to some of the challenges in the implementation of the regional rules. “As we are all aware, the regional directives and supplementary acts are crucial instruments for fostering and promoting regional economic integration, stability as well as development within the sub-region.
It also provides a strong framework for our member states to mobilise additional domestic resources for sustainable development, broaden our respective tax base, strengthen tax administration and help to curb tax avoidance and evasion,” he said. The regional fiscal transition objectives, he said, aligned with Nigeria’s current tax reforms, which are aimed at delivering shared prosperity for the country. ‘Also, we also recognize that regional integration and harmonisation are crucial for our economic growth and development, as well as the management of domestic taxation.
The publication of fiscal directives and supplementary acts is a significant step towards achieving this goal,” Kamal said. He reaffirmed the commitment of the Federal Government to the successful implementation of the ECOWAS regional economic agenda..
