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Investor Presentaiton

Revenue capture Standard registration data excludes a large proportion of the population Using standard means of identification (e.g. BVN, utility bill) excludes majority of the population who are unbanked or in the informal sector Four key factors deter full participation and timely payment of taxes & fees Too many steps in the process prolongs registration period • High rate of application drop-off from land title applicants Average time for land registration: 186 days Until recently, JMDB permits required 30 steps (now 7 steps) Separate registration interfaces (MDAs) break the payment chain for payees Lack of incentives for people to pay . Taxpayers get no additional benefits for paying or repercussions for unpaid taxes e.g. Banks requiring land registration proof before granting loans or requiring TIN certificate required for access to state funding (e.g. SME Loans) for individuals and SMEs Manual payments increase government overheads and can reduce trust in payment rates for payees • Personnel handling costs for manual payments reduce revenue realizable ( by up to 15%) Manual payments also include likelihood of corruption in the form of differential charges that are not declared as official revenue 117 Copyright © 2019 by Boston Consulting Group. All rights reserved.
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