Only 40 super-rich Nigerians pay correct tax — Govt report

Only 40 super -rich Nigerians pay correct tax on their income, a government report commissioned by the Federal Inland Revenue Service (FIRS) and the Joint Tax Board has found.

A very reliable source in government told SUNDAY PUNCH during the week that the report was prepared from tax data collected from the 36 states of the federation and Abuja.

The source, a senior public servant, said the findings of the FIRS would influence the fashioning of a new tax amnesty programme to be launched by the Federal Government later this year. Additional findings by SUNDAY PUNCH also revealed that government would soon go after super-rich tax defaulters whose lavish lifestyles do not correlate with the small taxes that they pay annually.

A senior government official told our correspondent during the week that “in the process of tracing stolen funds, it has become apparent that a significant number of Nigerians have assets and fund lifestyles that are not consistent with their income as declared on their tax returns.
Punch, January 29, 2017

RipplesNigeria ….without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now