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Port Harcourt
26 Aba Road, P.O. Box 12636, Port Harcourt,
Rivers State, Nigeria
Telephone: (+234-84) 464514-5
Facsimile: (+234-84) 464516
E-mail: portharcourt@aelex.com
Lagos
7th Floor, Marble House, 1 Kingsway Road,
Falomo Ikoyi, Lagos, Nigeria
Telephone: (+234-1) 4617321-3, 2793367-8, 4736296, 7406533, 4799312
Facsimile: (+234-1) 4617092
E-mail: lagos@aelex.com
Abuja
4th Floor, Adamawa Plaza,
Off Shehu Shagari Way, Central Business District, FCT Abuja,
Telephone: (+234-9) 6723568, 8704187, 07098808416
Facsimile:
E-mail: abuja@aelex.com
Accra
2nd Floor, Vanguard House, 21 Independence Avenue, Accra,
P.M.B. CT72, Accra, Ghana
Telephone: (+233 302) 224828; 224845-6
Facsimile: (+233 302) 224824
E-mail: accra@aelex.com
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SPEECH BY THE CHAIRMAN, BGL Plc, DR KALU IDIKA KALU, OFR, FORMER MINISTER OF FINANCE AND NATIONAL PLANNING, ON THE OCCASION OF THE 6TH AELEX ANNUAL LECTURE ON THE TOPIC “TAXATION WITHOUT REPRESENTATION” AT THE AGIP RECITAL HALL, MUSON CENTRE, LAGOS, NIGERIA ON JULY 20, 2010
Taxation is the public act of identifying a revenue base for assessing a value on which a rate is to be paid to the responsible public entity by the payee, the owner of the asset or the user of the service licensed by the responsible public entity. Historically, taxation has taken various forms - taxes, tariffs, rates and levies. In most cases, the taxation is assessed on the value (ad-valorem) of the asset, and in some cases by the quantity or weight of the item to be assessed.
Issues arising from taxation between the assessor and the payee generally involve the two issues of the value, as well as the rate to be paid per unit of that value. Generally rates can be on a percentage of the value resulting in a progressive or proportionate system or, as in the case of a flat or uniform rate, the tax incidence could be termed effectively “regressive” in the sense that owners of smaller assets may be liable to a higher overall percentage of the total value of the assets than owners of larger units.
In this short paper, you have asked me to: ...
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