He made this known on Wednesday, October 13,2021, while commenting on the 2022 budget, stressing that it would help the Federal Government of Nigeria boost its revenue.
His words:"I am aware right now and it has been said here that only two quarterly releases have been made now. We are in the last quarter of the year. That makes a joke of all the effort that we put in, day in, day out to ensure that the budget is passed on time. I pay attention to revenue shortfalls for the government . I recall when I was young, everybody paid taxes. Whether you are a farmer, your daddy was a carpenter, whatever he did for a living, he paid tax.
"Now we have tended to forgive everybody their taxation , except those who have an income where the tax is taken out of your income and the rest paid to you. I think our tax reform should be such that every Nigerian has a chance to contribute . Go out there and talk to 80 percent or 90 percent of the people of Nigeria, a lot of them who are self-employed , they don't pay tax anymore".
At present, small companies with an annual turnover of not more than N25m are excluded from paying Company Income Tax under the Finance Act 2020.
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