The External Revenue Policy of the newly inaugurated United States President, Donald Trump could further complicate global tax system.
This was the position of the Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, in reaction to Trump’s plan to establish the External Revenue Service for the benefit of US citizens.
Recall that During his inauguration, Trump expressed his plan for external revenue service, saying, “Instead of taxing our citizens to enrich other countries, we tariff and tax other countries to enrich our citizens. For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties and revenue. It will be a massive amount of money pouring into our treasury coming from far.”
According to Oyedele who made the statement in a post on X, Trump’s new policy could disrupt global trade.
He nonetheless added that Nigeria can better navigate potential challenges and seize any opportunities this development may present by revamping its tax system.
