By Henry Ojelu 

Lagos —A university don, Dr. Alexander Ezenagu, has stressed the need for a friendly, fair and flexible tax laws that would tap from the fast developing digital economy.

Ezenagu stated this, recently, while featuring as a guest speaker at the 2022 edition of the Punuka Annual Lecture, with the theme: ‘Taxation of the Digital Economy: The Challenges and Prospect for Nigerian Economy’. 

He said that given the present international convention, where digital business and economy is fast developing, “a good tax law that will allow you to tax businesses, both with physical presence or without, is what Nigeria needs now, given the speed at which Nigerian’s digital economy is developing.” 

He further maintained that Nigeria needed to elevate its digital tax laws to the royalty level.

Also, the Minister of State for Budget and National Planning, Clem Agba, said: “Digital economy, is high on the list of untapped sources of funds for the Nigerian tax authorities, and it is the future of the nation.” 

According to him: “It is the blood with which the economy runs and functions, and without it, a government will not be able to fulfil its obligations to the citizenry. “Whatever affects collectible taxes will therefore affect the health, existence and performance of the government and the economy.”