Multiplicity of taxes in Nigeria
The challenge of a multiplicity of taxes in Nigeria has also affected the overall performance of the hotel industry in Nigeria. The lack of compliance by certain investors and business people has led to poor tax collection rates. To cater to the government’s needs, the government of Nigeria has continued to increase the tax rates for the entire country.
The hotel industry in Nigeria has therefore been a great victim of the high taxes being imposed by the government on the country’s taxpayers. The high taxes being charged have increased the overall operational costs and discouraged most would-be customers from visiting the facilities in the country.
Inflation on the other hand has also played a great negative impact on the hotel industry in Nigeria. The negative impact on the industry has seen the cost providing even the common basic needs of the hotel industry to be very unaffordable.
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