Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, disclosed this to journalists during the weekend on the sidelines of the close-out meeting of the Committee in Abuja.
Oyedele stated that the committee’s data-driven approach has led them to conclude that the informal sector comprises people simply trying to earn a legitimate living.
As such, the reforms propose exempting 95% of this sector from all taxes, including withholding tax, company income tax and payroll taxes.
