FG Goes After Nigerian Billionaires Over Task Evasion

FG Goes After Nigerian Billionaires Over Task Evasion
  • PublishedMarch 29, 2017

Nigeria’s Finance Minister, Kemi Adeosun decried that several millionaires and billionaires in the country did not often pay tax, describing it as a shame.

Adeosun spoke at the 9th Colloquium to mark the 65th birthday of Asiwaju Bola Tinubu, All Progressives Congress, APC, national leader in Victoria Island, Lagos, Southwest Nigeria on Tuesday.

According to her, the Federal Government would come up with a new tax regime whereby the big guns in the society would be made to pay tax.

She lamented that many Nigerian entrepreneurs had developed the habit of not paying tax, saying that one of the strategies the current administration of President Muhammdu Buhari intended to use in boosting the country’s revenue was through tax mobilization.

“It is a pity that Nigeria has one of the lowest tax regime ratio globally at 6 percent.  The only country that is lower than us is Oman. We have so many wealthy entrepreneurs, who have managed to develop habit of not paying tax, we need to correct that,” she stated.

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