The Nigerian government has identified the key beneficiaries of the new tax reforms introduced by President Bola Tinubu.
The Nigeria Revenue Service, NRS, made the disclosure during an interview aired on Sunday on Arise Television. The Executive Chairman of the Nigeria Revenue Service, Zacchaeus Adedeji, stated that the poor are the primary beneficiaries of the new tax reforms.
Adedeji explained that the government is not imposing additional taxes, noting that based on the various exemptions, over 95% of the poor are fully exempted.
The NRS chief emphasized that the removal of Value Added Tax, VAT, on all food items remains beneficial to the poor because 90% of their disposable income is spent on food.
“We remove VAT totally from those ones. The same thing on transportation, which is also in the poor.
“So if you look at the total and the net benefit, the poor are the most beneficiary of this tax reform,” he said.
