Others are entertainment tax, produce sales tax, property tax ; fire service charge; slaughter or abattoir fee, where state finance is involved, etc.”revealed that CIT paid by manufacturers increased by 52.3 per cent from N91.2bn paid in the third quarter of 2021 to N138.9bn in the corresponding quarter of 2022.
He said, “So, the government needs money, but what we are saying is that the government is just putting pressure on the same people as opposed to developing to bring more people into the tax bracket. That is the major issue. There are a lot of people who are not paying taxes but are making money in this country.
“We are saying they should not increase the tax rates all the time for the same people who are paying when there are more people who are not paying because if you tax them to a point, they will not be able to pay.” A report titled “Taxing Nigeria’s subnational economies to oblivion” by SBM Intelligence recently revealed that the industry suffered from over-taxation because of its sustained growth in the last 20 years.
Source: News Formal (newsformal.com)
Apparently, they paid N11.5tn × 2 under Buhari. If you know, you know 🏃🏃🏃🏃🏃
Did it deter Buhari from borrowing N77trillion in an oil boom and still managing to make Nigeria the world poverty capital 🤔 😕
Where is the money n why are we still borrowing?
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