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Lawmaker advocates payment of tax by self-employed Nigerians

A member of the House of Representatives, Olufemi Fakeye, has advised the Federal Government to begin to tax self-employed Nigerians because, according to him, they earn lots of money.

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.

Content created and supplied by: Femfem (via Opera News )

Federal Government Federal Government of Nigeria House of Representatives Nigerians Olufemi Fakeye

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