Nigerian President Goodluck Jonathan on Tuesday condemned the attitude of companies towards tax in the Nation. According to him 65% of registered tax payers have defaulted.
Excerpt from #Punch:
President Goodluck Jonathan on Tuesday lamented the huge rate at which corporate businesses and individuals evade tax in the country, stating that a diagnosis carried out by the Federal Inland Revenue Service revealed that as many as 65 per cent of registered tax payers have not filed their returns in two years.
The President while speaking in Abuja at the opening session of the 44th annual accountants’ conference also explained that the diagnosis revealed that 75 per cent of Micro, Small and Medium Enterprises are not in the tax system while 35 per cent of companies operating under the Pioneer Status Incentives abuse their tax exemption status.
He said his administration had begun moves to address the anomaly, adding that seven fresh initiatives to improve the current level of non-oil tax revenue collection in the country had been unveiled.
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