The Join Tax Board in Nigeria has revealed that out of about 170 million Nigerians, only 10 million are paying taxes to the government.
A member of the National Tax Policy review committee and the Lead Presenter, Taiwo Oyedele, said at the stakeholders’ meeting in Abuja that the situation has denied the country huge revenue for developmental projects.
He said that in addition to the small number of Nigerians that are paying taxes, people have not been complying with issue of 10 percent Value Added Tax.
This was even as the chairman of the committee, Professor Abiola Sanni, said that the essence of the review was to improve it for better implementation.
Technical assistant at the Nigerian Association of Small and Medium Enterprises, Chris John Mamuda, advised the committee to consider granting tax amnesty for SMEs in order to encourage the businesses to grow. [myad]
