Fakeye said this on Wednesday while commenting on the 2022 budget during the plenary session on the floor of the house stating that it would enable the federal government to boost its revenue.
He said, “I’m aware right now and it has been said here that only two quarterly releases have been made now, we are in the last quarter of the year. That makes a joke of all the effort that we put in day in, day out to ensure that the budget is passed on time.
“I pay attention to revenue shortfalls for the government. I recall when I was young, everybody paid taxes. Whether you are a farmer, your daddy was a carpenter, whatever he did for a living, he paid tax.
“Now we have tended to forgive everybody their taxation except those who have an income where the tax is taken out of your income and the rest paid to you.
“I think our tax reform should be such that every Nigerian has a chance to contribute. Go out there and talk to 80 per cent or 90 per cent of the people of Nigeria, a lot of them who are self-employed; they don’t pay tax anymore.”
Small companies with an annual turnover of not more than N25 million are exempt from paying the Company Income Tax under the Finance Act 2020.
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