Laolu Akande, the Senior Special Assistant, Media and Publicity to Vice President Osinbajo has named cutting taxs as one of the media the Presidency is employing to ensure that the average citizen is taken care of.
Laolu revealed this today Thursday when he appeared on Channels TV’s Politics Today, discussing Buhari’s Economic Agenda and the Recession Exit Plans.
When asked what the plans of the Federal Government is to generate revenue beyond levies and oil, Laolu Akande said, “those are the big sources. If you look at the budget this year, we are doing quite a bit in trying to ensure we get more people into the taxation group, so that we don’t have to increase tax as it were.” Read also: Under Buhari, Boko Haram No Longer Install Emirs or Collect Levies From Nigerians – Lai Mohammed Boasts
“If you look at the Finance Act very well, what again we have done in line with the philosophy of the President to make sure that the average man is taken care of is that we have actually cut taxes. For instance, if you are earning minimum wage you don’t pay any income tax, absolutely. If you have a business that is making less than 10 million naira, you don’t pay any income tax. We are trying to take care of majority of our people but there are still big firms and companies that should pay”, he added.