Positive Effects Of New Tax Law On Nigerians

Contributing sentiments towards policy:

60% : Why Tax Matters While stressing on why the Federal Government should have an excellent tax system, David, maintained that no nation develops without a working tax system.
55% : Also, dousing workers fears, Oyedele had said that workers earning the new minimum wage and slightly more will also be fully exempted from tax obligations.
54% : In Nigeria, however, there is a deep disconnect between taxation and trust.
53% : Other features include: Capital Gains Tax (CGT): Aligned with corporate tax at 30% for companies, with individuals paying according to their income tax bracket, while Indirect share transfers will now be captured.
52% : According to him, a civil servant earning ₦600,000 annually would now pay zero income tax, while those earning ₦5 million or more will contribute more.
50% : Chairman, Presidential Advisory Committee on Fiscal Policy and Tax Reform, Mr. Taiwo Oyedele, on Monday, clarified that contrary to speculations, individuals earning about N1.7 million or less per month will pay lower Pay As You Earn (PAYE) tax under the proposed Tax Amendment Bills before the National Assembly.
50% : Multiple income streams make tax obligations lighter.
48% : On Personal Income Tax (PIT), he informed that Individuals earning ₦800,000 or less annually would be exempted from taxes, while others would be taxed progressively up to 25%.
31% : If both sides play their roles sincerely, taxation will cease to feel like a curse.

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