Nigerians on minimum wage to be exempted from income tax – Buhari

Admin l Monday, November 23, 2020

 

ABUJA, Nigeria – President Muhammadu Buhari has said that his government is proposing a new Finance Act that will  exempt all Nigerians who earn minimum wage from paying income tax.

President Muhammadu Buhari who is obviously reacting to news of Nigeria sliding into second recession in five years  said these provisions which complement the tax breaks given to small Biz last year will not only further stimulate the economy, but are also a fulfillment of promises made to take steps to help reduce cost of transportation & the impact of inflation on ordinary Nigerians.

“We are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax.” — President

“These provisions which complement the tax breaks given to small Biz last year will not only further stimulate the economy, but are also a fulfillment of promises made to take steps to help reduce cost of transportation & the impact of inflation on ordinary Nigerians”, President Muhammadu Buhari said on twitter.