According to Muhammad Nami, chairman of the Joint Tax Board (JTB), the government is working to end taxes on tomatoes and other raw food items. Nami stated this at the 153rd JTB meeting with the theme ‘Harmonization and codification of taxes at national and sub-national levels, the key to achieving tax-friendly environment in Nigeria’ in Abuja. He said ending taxation on the ‘non-taxable item’ was part of the proposed tax reforms of the President Bola Tinubu-led administration.
“For the informal sector, we do not want goods and services that are not taxable to be taxed. We will have an enumeration of the sector to ensure that those that are trading in goods like tomatoes and other raw food items are not made to pay taxes. Also, those that are not making up to N25 million will not be allowed to pay company tax or value-added tax (VAT),” the chairman said.
Source: businessday.ng