The Federal Government has disclosed that poor Nigerians are the main beneficiaries of the new tax reforms introduced by President Bola Tinubu.
Speaking on Arise Television, Executive Chairman of the Nigeria Revenue Service (NRS), Zacchaeus Adedeji, said the reforms are designed to ease the financial burden on low-income earners rather than impose additional taxes. According to him, over 95 per cent of poor Nigerians are fully exempted when all reliefs and exemptions are considered.
Adedeji explained that the complete removal of Value Added Tax (VAT) on food items and transportation is a major pillar of the policy, noting that food alone accounts for about 90 per cent of the disposable income of poor households.
He stressed that by eliminating VAT on essential goods and services, the reforms directly improve the welfare of vulnerable citizens, insisting that the net impact of the new tax reforms clearly favours the poor across the country.
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