800,000 companies have never paid taxes in Nigeria – Finance Minister, Kemi Adeosun has in a statement revealed that more than 800,000 companies in Nigeria have never paid taxes. This list also include government contractors.
She stated that only 14 million Nigerians out of an active base of 70 million remitted their taxes. Out of the 14 million tax payers, more than 95% were salary earners in the formal sector, but only 214 paid personal income taxes totaling about $65,500 in 2016.
In what she claimed as a systematic tax evasion at all levels, she revealed the government’s plan to improve on efforts to increase tax collection and bring tax evaders to book.
This she concluded would help the government’s less reliance on revenue from oil!
The question is, how were the companies, including the government contractors able to get away with tax evasion. I mean this is really appalling. Even the government are culpable!
Anyway, we look forward to 2018. Let’s see how effective these measure put in place by the government will be.