The Chairman of the Joint Tax Board (JTB), Muhammad Nami, says the Nigerian government has concluded plans to stop taxes on Tomatoes and other raw food items as moves to reduce their costs. Nami disclosed this at the 153rd JTB meeting held in Abuja recently. LEGIT NEWS reports.InformationGuideNigeria
He said ending taxation on the ‘non-taxable item’ was part of the proposed tax reforms of President Bola Tinubu’s administration.JAMB Result
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Nairametrics reports that Nami, who is also the Chairman of the Federal Inland Revenue Service (FIRS), stated that the government does not want goods and services that are not taxable to be taxed. He said those who do not earn up to N25 million per annum will not be allowed to pay company tax and VAT. According to Nami, President Tinubu is determined to adjust taxes and end multiple taxation in Nigeria.JAMB Portal
The JTB revealed that multiple state taxes should be eliminated to encourage revenue generation and investment. The FIRS boss said that the adjustment process would further reduce the number of taxes, block leakages, and boost revenue.
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