The Nigeria Revenue Service, NRS, has disclosed the main beneficiaries of the new tax law instituted by President Bola Tinubu.
Speaking in an interview on Sunday, the Executive Chairman of the Nigeria Revenue Service, Zacchaeus Adedeji, said the poor are the main beneficiaries of the new tax reforms.
Adedeji said the government is not taxing more, adding that looking at all the exemptions, more than 95% of the poor are totally exempted.
The NRS boss stressed that removing Value Added Tax, VAT, on all food item is still to the advantage of the poor because 90% of disposable income for poor is for 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.
