The President of Nigeria, Bola Ahmed Tinubu through the Federal Inland Revenue Service announced the Value Added Taxes Direct Initiative, a scheme to enable the government to collect taxes from market traders and informal sectors.
In a statement that was disclosed on Monday, the FIRS revealed that it would be in partnership with the Market Traders Association of Nigeria.
According to the FIRS, “Through the VAT Direct Initiative, the FIRS will help tackle multiple taxations in the marketplace through a partnership with security agencies to curb the activities of touts, miscreants, and self-imposed tax collectors involved in illegal tax collection in Nigeria’s market spaces.”
READ ALSO: President Tinubu arrives Lagos from London to celebrate Sallah
The Punch also added that the scheme would help tackle the multiple taxations and would also reduce the activities of touts in the market because they will be in partnership with security agencies.
The market traders association member would also receive an identification card that will contain their information, most especially their tax identification number.
READ ALSO: Tinubu, others say drug addicts need sympathy, not stigmatization
“When I was a cab driver, a naval officer slapped me because I overcharged him” – President Tinubu narrates
In other news, President Bola Ahmed Tinubu shared what he went through when he was trying to make a living as a cab driver in Chicago.
He narrated his experience as a Taxi driver in a biography that was printed on the back page of a national newspaper.
The biography which was titled ‘Tinubu: My Life as a Gypsy Cab Driver in the US’ was written by a journalist, Mike Awoyinfa.
Recommended posts:
Understanding the Vat Controversy
“When I was a cab driver, a naval officer slapped me because I overcharged him” – President Tinubu narrates
“You can’t break me”: Iyabo Ojo stands strong as Lagos government demands N18m tax payment in 7 days, netizens defend her
IKEJABIRD ORGANIZES FREE MEDICAL OUTREACH FOR ONIGBONGBO TRADERS
