 has said the poor would be the primary beneficiaries of the new tax laws signed By Tinubu){kind=link}
The Nigeria Revenue Service (NRS) has said the poor would be the primary beneficiaries of the new tax laws signed by President Bola Tinubu.
The Executive Chairman of the NRS, Zacchaeus Adedeji, made this known during an interview on Arise Television.
Adedeji dismissed claims that the reforms would increase the tax burden on citizens, noting that over 95 per cent of low-income earners have been completely exempted from certain levies.
He explained that the removal of Value Added Tax (VAT) on all food items was designed to cushion the impact on the poor, who spend approximately 90 per cent of their disposable income on food.
“We have removed VAT totally from those items. The same applies to transportation, which also affects the poor significantly,” Adedeji said.
He added: “If you examine the total and net benefit, the poor emerge as the greatest beneficiaries of this tax reform.”