Beggars In Nigeria Will StartPaying Tax – FG
The Nigerian government has stated that no one would be left out in the campaign toenlarge the tax revenue.
She said some beggars were earning millions and that “proceeds from begging are taxable.
You are supposed to pay taxes even if your means of income is begging”.
Minister of Finance,Mrs. Kemi Adeosun said this in Lagos at a lecture at PWC’s Business School, with the theme: ‘Voluntary Assets and Income Declaration Scheme (VAIDS) Interactive Session for Executives and Business Owners.
’She said to ascertain the income status of the companies/individuals and their lifestyle, investigators wouldrely on information derived from Bank Verification Number (BVN), records of property ownership, records of foreign exchange allocation, and records of company ownership from theCorporate Affairs Commission (CAC), among others.
Adeosun said:
“We are using some firms to trace assets internationally.The investigators’ findings will enable us to compare the income and how much tax the company/person is really paying, and that gives us lots ofinformation.
“But we encourage people to come up and pay their taxes willingly. You can register a high-end car. It tells me something about your income.
“So, we look at yourtax returns. If you registered Mercedes E-Class and you are paying N100,000 tax, then something is wrong. Those are red flags. We now have the capacity to assess people accurately.
“We are trying to build an economy where we have oil and other things. It is going to be oil plus and wider economy”.
The Nigerian government has stated that no one would be left out in the campaign toenlarge the tax revenue.
She said some beggars were earning millions and that “proceeds from begging are taxable.
You are supposed to pay taxes even if your means of income is begging”.
Minister of Finance,Mrs. Kemi Adeosun said this in Lagos at a lecture at PWC’s Business School, with the theme: ‘Voluntary Assets and Income Declaration Scheme (VAIDS) Interactive Session for Executives and Business Owners.
’She said to ascertain the income status of the companies/individuals and their lifestyle, investigators wouldrely on information derived from Bank Verification Number (BVN), records of property ownership, records of foreign exchange allocation, and records of company ownership from theCorporate Affairs Commission (CAC), among others.
Adeosun said:
“We are using some firms to trace assets internationally.The investigators’ findings will enable us to compare the income and how much tax the company/person is really paying, and that gives us lots ofinformation.
“But we encourage people to come up and pay their taxes willingly. You can register a high-end car. It tells me something about your income.
“So, we look at yourtax returns. If you registered Mercedes E-Class and you are paying N100,000 tax, then something is wrong. Those are red flags. We now have the capacity to assess people accurately.
“We are trying to build an economy where we have oil and other things. It is going to be oil plus and wider economy”.
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