FG to exempt minimum wage earners from paying tax

The Vice President of Nigeria Prof. Yemi Osinbajo, has disclosed the President plan to exempt minimum wage earners from paying Personal Income Tax.

Buhari said the plan was one of the proposals in the 2020 Finance Bill pending before the National Assembly.

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

“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,” he said.