Tax reform boss Taiwo Oyedele went on WhatsApp, telling people to chill because the new rules dropping next year will actually cut what most Nigerians pay instead of jacking it up like everyone on social media keeps saying. He said the bottom 98 percent of earners will either pay way less or nothing at all while food gets cheaper since VAT disappears from groceries, schools and hospitals. Small businesses get hit with zero corporate tax and dodge VAT completely while bigger companies catch lower rates and get credits back on their expenses.
Oyedele called out the flood of fake claims saying the government wants to raid bank accounts or tax gifts and remittances. He brought up some guy who skipped buying bank shares thinking capital gains tax would wreck him when he was actually exempt from it and lost money being scared. The committee head said people spreading doom about new taxes coming need to name which ones because none exist in the actual law.
Oyedele called out the flood of fake claims saying the government wants to raid bank accounts or tax gifts and remittances. He brought up some guy who skipped buying bank shares thinking capital gains tax would wreck him when he was actually exempt from it and lost money being scared. The committee head said people spreading doom about new taxes coming need to name which ones because none exist in the actual law.
