Minimum Wage Earners To Be Exempt From Tax Payment – FG

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President Muhammad Buhari

Minimum wage earners will be exempted from Personal Income Tax payment, President Muhammadu Buhari has declared. He said the plan was one of the proposals in the 2020 Finance Bill pending before the National Assembly.

Vice President Yemi Osinbajo disclosed Buhari’s plan at the opening of the 26th Nigerian Economic Summit Group conference.

A statement by Osinbajo’s spokesman, Laolu Akande, disclosed that the measure would also help in stimulating Nigeria’s economy.

Said he: “We are proposing in the new Finance Bill that those who earn minimum wage should be exempted from paying income tax.

“These provisions complement the tax breaks given to small businesses last year to not only further stimulate the economy, but are also a fulfillment of promises made to take steps to help reduce the cost of transportation and the impact of inflation on ordinary Nigerians”.

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