Beggars

The Nigerian government has stated that no one would be left out in the campaign to enlarge the tax revenue.

She said some beggars were earning millions
and that "proceeds from begging are taxable.

You are supposed to pay taxes even if your means of income is begging".

Minister of Finance, Mrs. Kemi Adeosun said
this in Lagos 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,
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.

Adeosun said: "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.

"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.

"We are trying to build an economy where we
have oil and other things. It is going to be oil
plus and wider economy".

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