A member of the house of representatives, Fakeye Olufemi, is of the opinion that owners of small and medium-sized enterprises including carpenters and taxi drivers should be made to pay tax.
Fakeye who is a member of the ruling APC and represents Boluwaduro/Ifedayo/Ila federal constituency of Osun state in the house, said this while making his contributions to the 2022 budget debate during plenary session on Wednesday, October 13, the Cable reports.
The finance act 2020 exempts small companies with an annual turnover of not more than N25 million from paying company income tax (CIT).
While calling for the businesses to be taxed, Fakeye opined that this will be another source of revenue for the federal government to finance the budget.
“I think our tax reform should be such that every Nigerian has a chance to contribute. Go out there and talk to 80 percent or 90 percent of the people of Nigeria, a lot of them that are self-employed; they don’t pay tax anymore
So when we hear FIRS or tax organisations, even the tax joint board widening the tax net; why do they shy away from finding a way to make people pay — whether you are a carpenter, you are a taxi driver, you are selling rice in the market — these people make a lot of money but they don’t get to pay nothing. So I think that is an area I would like to see revenue-boosting.”