TAXATION AND OTHER FISCAL IMPACT OF THE PENSIONS REFORM BILL
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Date
2004
Authors
SANNI, A.O
Journal Title
Journal ISSN
Volume Title
Publisher
Centre for Law & Development Studies
Abstract
This paper examines the relationship between the Pension Reform Bill (Bill), taxation and intergovernmental fiscal relationships. The paper considers the tax treatment of the existing pension schemes vis-a-vis the provisions of the Bill and concludes that the tax treatment under the Bill is far more generous. The paper also raises some specific questions and attempts to provide answers to them.
These include whether the contribution under the Bill is a tax, who bears the burden, how is the contribution treated under the tax law at the time of payment and at the time of receiving benefits, what is the interaction between the contributors and the tax authority, can the Federal Government impose obligations on the States and Local Governments on how to finance Pension Schemes of their employees, whether the revenue of States and Local Government Councils from the Federation Account can be charged with the payment of their contributions under the Bill?
Description
Keywords
Pensions Reform Bill
Citation
Sanni, A.O (2004) TAXATION AND OTHER FISCAL IMPACT OF THE PENSIONS REFORM BILL 1(1) 77 Nig. J. Leg. Centre for Law & Development Studies