Wednesday, 29 November 2017

Only 40m Nigerians Pay Tax – Adeosun

Minister of Finance Kemi Adeosun says only 40 million Nigerian adults, out of 70 that are taxable, pay their taxes. She made this statement on Tuesday at the first annual lecture of the Lagos State Professorial Chair of Tax and Fiscal Matters held at the Ade-Ajayi Auditorium of the University of Lagos.

The minister said 13 per cent of the active tax payers have their taxes deducted at source under the Pay as You Earn (PAYE) category.
According to her, Nigeria’s tax policies should be reviewed to prevent tax evasion.

"I have kept asking why the 30 million people have refused to pay taxes,” she said.
"Another major challenge is the fact that many Nigerians have other sources of income, yet they are only taxed only through the PAYE. Yet, they earn so much from part-time jobs, and extra businesses.”

She restated the importance of taxation to the country’s growth and said that all developed countries have good tax policies.

Share This