’80% Nigerians Outside Tax Net’

Chairman  of the Edo State Internal Revenue Service (EIRS), Sir Oseni Elemah, on Sunday, said 80 per cent of taxable Nigerians have not yet keyed into Taxpayer Identification Number (TIN), which is meant to boost the country’s  tax system.

In an interview during the ongoing Annual Tax Conference (ATC) organised by the Chartered Institute of Taxation (CITN) in Abuja, Elemah told the News Agency of Nigeria that the unhealthy trend has paved way to rampant tax evasion.

The TIN is a unique number allocated and issued to identify those who are registered taxpayers in Nigeria.

“When you calculate the tax income revenues Nigeria ought to have made and deduct it from the amount realised, we would all understand Nigeria is missing much.

“A Nigerian becomes taxable when he or she becomes 18 years and earns a regular income; such an individual must file annual returns for assessment.

“Many Nigerians are still outside the tax net, it remains so without TIN number,” Elemah said.

Elemah stressed that Nigeria needs reforms that would bring all taxable Nigerians into the tax net.

“All taxable Nigerians and companies must be made to acquire TIN and this must go with immediate enforcements,” he said.

He stated that TIN would bring Nigeria’s tax administration and practice in line with global best practices, enhance taxpayer identification and registration as well as minimise leaks in tax collection.


Source : Independent

Tags: No tags

Comments are closed.