Nigerian government takes aim at rich persons to grow tax revenues

The Nigerian government plans to review its tax rate for affluent persons to a level it considers fair, to protect the poor and ultimately expand the revenue of the country.

The plan is also aimed at arresting commonplace evasion in an economy with one of the world’s lowest tax collections in proportion to GDP.

It also seeks a cut to corporate income tax, which currently stands at 40 per cent, and will propose tax amnesty to encourage evaders to settle backlogs.

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