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New FIRS rule to see rich Nigerians pay more tax than the poor, average

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The Federal Inland Revenue Service (FIRS) have in a statement on Saturday, February 9, revealed that the implementation of the Finance Act will result in more tax burden on the elite.

The statement said a tax expert, Mr Taiwo Oyedele, in his presentation titled ‘Strategies for implementing the new VAT regime’ said the new 7.5 per cent VAT would not impact negatively on poor Nigerians.

He said the rich would pay more unlike in the past. Oyedele said the key to building a fair, equitable tax system was through transparency, accountability, integrity and objectivity.

According to him, this will help build confidence in all taxpayers.

 
 
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