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They earn millions from begging activities and so are taxable
Beggars will not be left out of the tax net
FG engages the services of Kroll, a United Kingdom-based forensic and assets-tracing organisation to carry out forensice tax investigation
The Nigerian government said recently that All Nigerians are liable to pay tax and as such, no one would be left out of the tax net, including beggars.
Minister of Finance, Kemi Adeosun stated this at a lecture at PWC’s Business School, themed: ‘Voluntary Assets and Income Declaration Scheme (VAIDS) Interactive Session for Executives and Business Owners.’
She also said that some beggars make millions of ‘proceeds from begging’, and are taxable. In her words, she stated that “You are supposed to pay taxes even if your means of income is begging”.
Adeosun also said that in order to confirm the income status of the companies/ individuals, their lifestyles, investigators will seek to rely on information gotten from their bank verification number (BVN), records of foreign exchange allocation, and records of company ownership from the Corporate Affairs Commission (CAC), records of property owned among others.
Kemi further said that “We are using some firms to trace assets internationally. The investigators’ findings will enable us to compare the income and how much tax the company/person is really paying, and that gives us lots of information. But we encourage people to come up and pay their taxes willingly. You can register a high-end car. It tells me something about your income.
“You can register a high-end car. It tells me something about your income. So we look at your tax returns. If you registered Mercedes E-Class and you are paying N100,000 tax, then something is wrong. Those are red flags. We now have the capacity to assess people accurately.
The government said it recently engaged the services of Kroll, a United Kingdom-based forensic and assets-tracing organisation, to embark on this investigation.
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