ABUJA –President Bola Tinubu on Sunday advocated a review of global taxation, explaining that redressing the imbalance in the international tax regime has become imperative.
President Tinubu made the advocacy in a speech at the Third South Summit of the Group of 77 and China which opened on in Kampala, Uganda.
He affirmed the country’s belief in and commitment towards multilateralism as a way of addressing global challenges.
President Tinubu, who was represented at the summit with the theme “Leaving No One Behind” by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said the issue of global taxation is pressing because it impacts developing countries.
“The current international tax systems, largely shaped by the interests of more affluent nations, often leave developing countries at a disadvantage, especially in taxing digital economies. This systemic imbalance has led to significant revenue losses, hampering our efforts towards sustainable development and economic self-reliance,” he pointed out.
Credit: Vanguard Newspaper
