No tax holiday for any company operating in Nigeria – Minister

The Minister of Finance, Kemi Adeosun has stated that 14 million of working class Nigerians pay tax out of 69 million.
The Minister, who stated this during “Overview of 2018 Budget Proposal” on Tuesday in Abuja, said the nation needed to re-invent the culture of tax payment.
She said the era when people paid tax only when it was convenient for them or asked for benefits for tax paid before doing so was over.
She said the figure indicated that most of the tax payers were civil servants and other formal sector workers, while the high net individuals do not pay taxes or do not pay the right amount of tax.
Adeosun said that the Federal Government would in 2018, ensure that the rest of the working populace that had not been captured would be captured on the nation’s tax database.

No tax holiday

She further said that the Federal Government has not approved tax holidays for any company operating in the country, adding that companies were only given tax credits.
The Budget, tagged “Budget of Consolidation”, which was presented to the joint session of the National Assembly by President Muhammadu Buhari on November 7 is expected to reinforce and build on recent accomplishments of the government.

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