How Fowler Plans To Make Every Nigerian Pay Tax
The Federal Government is bullish on raising more revenue from taxes and the man at the helm of tax affairs, Tunde Fowler, believes he has found his way to make it happen.
Fowler, who is the Chairman, Joint Tax Board (JTB), said on Monday, that the Federal Government planned to obtain and access information on all categories of taxpayers through Voluntary Asset and Income Declaration Scheme (VAIDS).
He made the disclosure at the 139th meeting of the board held in Sokoto on Monday.
Fowler said the most important aspect of Nigeria’s tax administration which required attention was registration of taxpayers of all categories.
He added that "available records showed that an estimated 80% registered taxpayers were from formal sector, an indication that very low income was generated from tax in the informal sector.
"Our plan now is to bring in the high net-worth individuals into the tax net to ensure that everyone is in the tax net.
"This is to ensure that everyone is fully involved in contributing toward the development of our country.
"Moreover, it is an agreed fact that majority of individuals in the private sector, including self-employed persons, professionals and high net-worth individuals, are in default of paying relevant taxes which they are liable to pay.
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“To address these challenges, therefore, the government planned to access and obtain information on all categories of taxpayers through VAIDS".
He explained that going by the plan, taxpayers would be encouraged to provide information to facilitate correct assessment and payment of relevant taxes.
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