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Vulnerable, poor people should get tax exemption – Oyedele

Written by gcsjjustified

According to the chairman of the Presidential Taskforce on Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, the proposed tax reforms aim to legally exempt 95% of businesses and individuals in the informal sector from paying taxes. Oyedele stated that the data-driven approach has led the committee to conclude that the informal sector comprises people simply trying to earn a legitimate living, and as such, they should be supported and allowed to grow without the burden of taxes. The reforms propose focusing tax compliance efforts on government officials and the elite class, rather than the poor and vulnerable population.

Citations:

[1] https://www.vanguardngr.com/2024/06/vulnerable-poor-people-should-get-tax-exemption-oyedele/

[2] https://leadership.ng/fg-raising-tax-exemption-threshold-above-n25m-turnover-oyedele/

[3] https://www.jstor.org/stable/30012342

[4] https://www.jstor.org/stable/145673

[5] https://www.imf.org/external/pubs/ft/issues/issues27/

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