The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Top News

Street Traders, Artisans, Should Be Taxed – FIRS Boss

Next Edition by Next Edition
February 6, 2020
in Top News
Street Traders, Artisans, Should Be Taxed - FIRS Boss

Mohammed Nami

0
SHARES
1
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mohammed Nami, has said that street traders, artisans and others in the informal sector of the economy should be taxed.

He however, lamented that politicians were dragging their feet over the issue for fear of losing votes.

You might also like

JAMB Hires IT Experts To Probe Alleged UTME Glitches

Tinubu Bags Lifetime African Achievement Award In Ghana

NDLEA Uncovers Hidden Drug Storage Inside Fuel Tanker

According to Nami, taxing the informal sector would promote good governance as well as political accountability, and also ensure the informal sector has the right to request for certain services as demanded by the formal sector, which is being taxed.

“Taxing the informal sector may also be a way of promoting good governance and political accountability of the State because tax strengthens the social contract between the citizens and the government. Thus, informal businesses that contribute to tax revenues are likely to assert their rights to receive certain services from government thereby ensuring accountability,” the FIRS boss said.

The informal sector is not taxed in Nigeria. Individuals and businesses in the informal sector also known as an underground sector do not declare their income and pay no taxes on them because it is not considered as normal income sources. The sector is mostly filled with the lower class of society.

READ ALSO: Buhari Appoints New FIRS Boss, Sacks FIRS Fowler

But the FIRS boss is trying to change that in a bid to expand the government’s revenue base.

Nami made this known during the ninth Country Correspondents meeting and African Tax Administration Forum (ATAF’s) Experts meeting on taxation of the informal sector in Abuja.

Nami posited that taxing the informal sector will be a boost to the revenue mobilisation of African countries especially Nigeria which has owned up to having revenue problem.

He said politicians have promised the people in the informal sector of protection from taxes in order to be elected.

“Taxing the informal sector is viewed as politically unpopular and politicians are unwilling to risk losing the high number of votes represented in the sector. This is because politicians promise informal workers protection from taxation in exchange for their votes.”

He added that these businesses “also operate on a cash basis and maintain poor or no accounting records. Most of the businesses in the sector are also small and fragmented making it inefficient for the revenue administrations to enforce compliance.”

Tags: ArtisansfeaturedFederal Inland Revenue Service (FIRS)FIRS Bossfrican Tax Administration Forum (ATAF’s) ExpertsMohammed NamiShould Be TaxedStreet TradersTaxation
Next Edition

Next Edition

Recommended For You

JAMB Eases Restrictions On Services To Aid pre-2020 Candidates

JAMB Hires IT Experts To Probe Alleged UTME Glitches

The Joint Admissions and Matriculation Board has engaged top IT experts and educational assessment professionals to investigate alleged technical glitches that marred the 2025 Unified Tertiary Matriculation Examination....

Palliative: FG Approves N5bn For States, LGs

Tinubu Bags Lifetime African Achievement Award In Ghana

President Bola Tinubu has bagged the Lifetime African Achievement award from the Millennium Excellence Foundation based in Ghana, NAN reports on Monday. Tinubu, while receiving the award, commended...

NDLEA Uncovers Hidden Drug Storage Inside Fuel Tanker

NDLEA Uncovers Hidden Drug Storage Inside Fuel Tanker

Operatives of the National Drug Law Enforcement Agency have intercepted a fuel tanker that was modified to conceal and transport illicit drugs across Nigeria.   NDLEA’s Director of...

Lagos task force clears container trucks

20-ft Container Falls, Kills Two Dispatch Riders In Lagos

Two dispatch riders have lost their lives after a 20-feet container fell on them during a collision involving two fully loaded Mack trucks on Eko Bridge inward Alaka...

Next Post
INEC De-registers 74 Political Parties, Fixes Dates For Edo, Ekiti Governorship Elections

INEC De-registers 74 Political Parties, Fixes Dates For Edo, Ekiti Governorship Elections




Related News

Makurdi in Gloomy Mood as Burial of 73 Victims of Herdsmen Killings Soon Underway

Makurdi in Gloomy Mood as Burial of 73 Victims of Herdsmen Killings Soon Underway

Nigerians In U.S. Pay Tribute To Music Star MohBad

MohBad: Be Patient, Lagos Assembly Tells Fans, Promises Justice

AIDS still an epidemic among children –UNICEF

AIDS still an epidemic among children –UNICEF




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited