Minister of Finance, Kemi Adeosun has said that the Federal Government would start taxing beggars that earn millions in order to enlarge the tax revenue.
She said this at a lecture at PWC’s Business School, with the theme: ‘Voluntary Assets and Income Declaration Scheme (VAIDS) Interactive Session for Executives and Business Owners.
She said to ascertain the income status of the companies/individuals and their lifestyle, tax investigators would rely on information derived from Bank Verification Number (BVN), records of property ownership, records of foreign exchange allocation, and records of company ownership from the Corporate Affairs Commission (CAC), among others.
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.
We are trying to build an economy where we have oil and other things. It is going to be oil plus and wider economy.
Going further, she said no Nigerian would be left out in the campaign to enlarge the tax net, noting that some beggars were earning millions.
She said the government will look at their lifestyles and tax them, adding that “even proceeds from begging are taxable. You are supposed to pay taxes even if your means of income is begging”.
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