Minister of Finance Kemi Adeosun
has revealed numbers of Nigerian companies that do not pay taxes.
Adeosun in a statement said that
more than 800,000 companies in Nigeria, including government contractors, have
never paid any taxes.
“Only 14 million Nigerians, out
of an economically active base of 70 million, paid their taxes.
“Of the 14 million, more than 95%
were salary earners in the formal sector, but only 241 people paid personal
income taxes amounting to about $65,500 (£50,000) in 2016,” Ms Adeosun said.
She further revealed government’s
plans to step up efforts to increase tax collection.
“There was “systematic tax
evasion at all levels,” and the government plans to step up efforts to
increase
tax collection.
“This would help reduce
government reliance on oil revenue,” Ms Adeosun added.
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