Nigeria's minister of Finance, Kemi Adeosun says no Nigerian would be left out in the campaign to enlarge the tax net, and the country will be difficult for those who don't pay their taxes. She made this known in Lagos at a lecture at PWC’s Business School, with the theme: ‘Voluntary Assets and Income Declaration Scheme Interactive Session for Executives and Business Owners.’ She said;
“We are working alongside projects we have locally, like the Bank Verification Number (BVN), records of property ownership, records of property allocation, records of company ownership from the Corporate Affairs Commission (CAC), among others. It is from these projects that we look at how much tax such companies or individuals should be paying”.
The investigators’ findings will enable us 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. 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.”
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