The Minister of Finance, Kemi Adeosun has given the importance of the Voluntary Asset and Income Declaration Scheme (VAIDS) by the Federal Government saying most Nigerians who pay their tax are low-income earners.
The Finance Minister said those who pay tax in Nigeria are low-income earners and salary earners whose taxes are deducted at source.
Speaking on the issue of tax payment during her appearance on a special Channels Television programme, The Core, on Wednesday, Adeosun said VAIS is justified as it pursues Nigerians who earn and have acquired more assets and income.
“Most of the taxpayers we have in Nigeria today are salary earners. They are about 94% of our taxpayers. I think we have about 14million taxpayers and 13.5million are pay as you earn. So, those are people whose income tax is being deducted at source. These are largely low-income earner. So would it be fair for those who made the most and have the most to be forgiven? Because if we do that, then we should also refund those who have actually paid their taxes. In the spirit of fairness, we think it is right the way we designed it,” she said.