"Only 914 people pay between N10m and N20m tax every year in Nigeria and 912 of them reside in Lagos"- Osinbajo says | Welcome to Linda Ikeji's Blog

LI_Leaderboard_4

LI_Leaderboard_1

LI_Leaderboard_2

LI_Leaderboard_3

Friday, 30 June 2017

"Only 914 people pay between N10m and N20m tax every year in Nigeria and 912 of them reside in Lagos"- Osinbajo says

While speaking at the launch of the Voluntary Assets and Income Declaration Scheme in Abuja yesterday June 29th, acting president, Yemi Osinbajo, said statistics from the Federal Inland Revenue Service FIRS, shows that out of the active population of 70 million people in Nigeria, only 14 million of them are taxpayers.

According to Osinbajo, 914 Nigerians pay between N10m and N20m tax yearly and that of the 914 persons, 912 of them are residents of Lagos state while the remaining two reside in Ogun State. The vice president said that this is considerably low considering the fact that Nigeria boast of very wealthy persons with choice properties within and outside the country.

According to him, it is only those who work in very formal offices that mostly pay their tax.
“Those who earn salaries that are known in a formal setting are those we know that pay taxes. Outside of that group of people, there are many high net worth individuals, self-employed persons and some companies that are able to evade full tax payment due to the limited knowledge of the tax authorities to assess their true income. According to the FIRS, the total number of taxpayers in Nigeria is just 14 million; of this number, 96 per cent of them have their taxes deducted at source from their salaries under the Pay-As-You-Earn system, while just four per cent are under direct assessment. So, the vast majority of Nigerians do not pay taxes.
This is at variance with our economy where almost 70 million Nigerians are economically active. The statistic of those paying taxes are quite alarming. Despite having some of Africa’s wealthy people, whose lifestyles are the subject of global admiration, only 214 Nigerian pay taxes of N20m or more each year. A personal tax of N20m implies that the person is earning personal income of N80m a year. That group of 214 excludes many names who can pay well over N20m"he said
Osinbajo announced the grace of the next nine months for tax evaders to go and regularize their payments with the appropriate authorities, failure to do so could earn them criminal prosecution. He added that the Federal government is currently carrying out a secret investigation into the earnings of some highly placed Nigerians and the tax they pay to government.

34 comments:

Alloy Chikezie said...

Lagos takes the lead, others follow.

Your comment will be visible after approval.

@MEETD®EALEVANS™ said...

Ghen Ghen

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

MUFC said...

Osinbajo 2019

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

Anonymous said...

Please build prison that cane take 50millin people, we are not paying any tax to you greedy people, seem they don't have enough money to loot again....you will send all of us to jail...you go tire

NaijaDeltaBabe said...

Hmmmm


... Merited happiness

DANIELS said...

IF YOU CHECK, YOU WILL FIND OUT THAT, 90% OF THE 914 THAT PAYS THE TAX ARE THE IGBOS. NO HAUSA MAN PAYS TAX. IF U GO TO KASTINA AND STOP 50 VEHICLE, YOU WILL BE SHORKED THAT 99% OF THEM DOES NOT HAVE EITHER DRIVERS LICENSE OF VEHICLE PAPERS.

DANIELS said...

IF YOU CHECK, YOU WILL FIND OUT THAT, 90% OF THE 914 THAT PAYS THE TAX ARE THE IGBOS. NO HAUSA MAN PAYS TAX. IF U GO TO KASTINA AND STOP 50 VEHICLE, YOU WILL BE SHORKED THAT 99% OF THEM DOES NOT HAVE EITHER DRIVERS LICENSE OF VEHICLE PAPERS.

DANIELS said...

IF YOU CHECK, YOU WILL FIND OUT THAT, 90% OF THE 914 THAT PAYS THE TAX ARE THE IGBOS. NO HAUSA MAN PAYS TAX. IF U GO TO KASTINA AND STOP 50 VEHICLE, YOU WILL BE SHORKED THAT 99% OF THEM DOES NOT HAVE EITHER DRIVERS LICENSE OF VEHICLE PAPERS.

DANIELS said...

IF YOU CHECK, YOU WILL FIND OUT THAT, 90% OF THE 914 THAT PAYS THE TAX ARE THE IGBOS. NO HAUSA MAN PAYS TAX. IF U GO TO KASTINA AND STOP 50 VEHICLE, YOU WILL BE SHORKED THAT 99% OF THEM DOES NOT HAVE EITHER DRIVERS LICENSE OF VEHICLE PAPERS.

Anonymous said...

Am sure #Hushpuppy is not among them.

Anonymous said...

That means the senators house of rep members etc no dey pay tax including you nd ur away president then that's sad.but u steal money everyday????

Vivian Reginalds said...

FAT LIES!!!

-D great anonymous now as Vivian Reginalds

OSINANL said...

OKAY!

Akeem Opayemi said...

For window blinds wallpapers and curtains please call 08160856785.

Anonymous said...

The Nigerian Government should first start being accountable to the public its only then the people can be able to pay taxes not to pay and they will pocket it like oil money NO

David said...

No Nigerian is owing the Nigerian govt any dime but instead it's the Nigerian govt that is owing us for years of Neglect of the duties and responsibilities to us.

click here now if you are interested in penis enlargement

No electricity yet we are charged monthly , no roads, no potable water supply , no security , absolutely nothing to show for all the years of Tax we have paid.

Anonymous said...

"Tax ko Taxi ni". Sir, you the best thing that ever happen to this govt o. So pls dont let me be angry with you. How do you expect nigerians that practically struggle to provide everything for themselves in their business to now be calling IRS to take money. For waht. No light, no security, no health care insurance, no nothing! And pls dont say its cos we not paying tax thats the reason for this. The govt is very rich to set up all these and when we see it and know we can benefit ten we will be encouraged to pay tax. For instance billions have been spent on Aso rock clinic (clinic o and not hospital) money that can set up standard hospitals across the country. After all the billoin allocated from budget over the yrs for the clinic where is buhari today!
So just be contented with the tax from the salary earners abeg. Even if those one have there way they will not pay kobo

Anonymous said...

So those our bastards good for nothing leaders who resides in ABUJA do not pay tax , it's ok, make them carry on ... We just start for this country..

Anonymous said...

At the end of the day what do they do with the revenue generated? nothing, it is just for looting for those in power. abeg make them pack well joor.

Anonymous said...

I believe our Acting President is a man of God. I hope he listening to the Holy Spirit, because if he does, that will not be the next thing he will be talking about. I personally don't trust Government. They have have to win my trust. Seems these our leaders don't have a clue of the extent of suffering in the land. They have lost connection with the grassroots. People are underpaid and then you tax them. That is wickedness. People have a fixed income, but house rent, food items and transportation are not under control. They keep going up and our Government isn't doing anything about these.
Any Government that increases revenue and the life of it citizens are still miserable is a failure. I hope they will get information from the grassroots and see the real situation before embarking on such exercise.They should try and evaluate how much you need to even survive as a human being.

Makky said...

I think the method of taxing people should be 'pay as you spend' and not the supposed'pay as you earn' cos I can't imagine earning 100k and by the time I pay electricity bill, fueling of generator, feeding, children school fees and other expenses, at the end of the month I'll be left with little or nothing and yet you expect me to pay tax? Hell no... Come and arrest me

Anonymous said...

Close that thing you call mouth, what have you done to ask tax? Only those like you should pay.

Chisom Felix said...

If politicians pay tax... D number should be higher Dan dat

Prince lexton said...

Your ignorance is alarming!!!

Funmi Ajayi said...

914 Ppl paid but 419 Ppl did not pay shey? it is well. we r hungry...food no dey!!! the yoruas say inu didun lo n mori ya.

Funmi Ajayi said...

Yorubas

Otush said...

Since we can do voluntary pension contribution to reduce tax, how will tax be high... beside what benefit are we deriving from paying these taxes...road security electricity etc meant to be provided by govt is being provided by the pple... later they will come with another tax formula that will increase tax for the common man...clueless govt!!! Stupid president daft vice

Anonymous said...

God bless this Technocrat we have as a leader....inspiring to hear this...however, this investigation should go side by side with the investigation of what has been done with all the taxes paid....because, I would be happier to pax my taxes if I see what the state governments do with it...cos right now, it's a sad experience to be a tax payer in Nigeria

Anonymous said...

To call the vice president daft...i am certain you are an illiterate who has probably not left the shores of this country...or even read about world great economies...Briton, US, and most of the best economies in the world derives a great percentage of the funds used to grow their economies from taxes...

Recent Posts