Labor Party’s 2023 presidential candidate Peter Obi criticized the new cybersecurity tax, saying it would have a negative impact on the economy.
Obi’s spokesman, Yunusa Tanko, in a statement in Awka on Wednesday, said the focus was on protecting and supporting the economy as a whole due to the various taxes and various challenges facing the country, which would further deteriorate the economy.
It is said that the online tax focuses on working capital rather than the profit of the business, which will increase capital.
He said this not only includes many taxes on banking transactions, which are already subject to various taxes, including stamp duty.
“However, this defeats the promise of reducing the amount of taxes and simplifying the tax system. Taxes are paid on the capital of the business, not on its profit.
“So, after the devaluation of the naira and the impact of high inflation, this will increase their investments,” he said.
The former governor of Anambra said these laws will not only impoverish the people but also make the economic environment of the country uncompetitive.
He said that in such a period, the government should reduce taxes to prevent inflation and financial competition.
“The NSA, the National Security Agency, should not be the tax authority of the country,” Obi said.
