700,000 Non Tax Paying Firms In Nigeria Discovered

Nigeria has chased down 700,000 firms that have never paid taxes. The nation with a populace of around 180 million, slipped into recession in August without precedent for over 20 years.

It is presently trying to discover new income sources to adjust at low oil costs. Yet, it is a tough task attempting to inspire Nigerians to pay their charges, considering that 80% the workforce is used in the informal sector.

Tunde Fowler, official executive of the Federal Inland Income Service (Firs), said the point was to bring the aggregate number of enrolled people to 20 million before the end of the year:

"We have been able to add about 700,000 companies and we
expect to add about 10 million individuals across the nation
[by December]." , the Reuters news organization cites its duty boss as saying.

He advised Reuters there were arrangements to twin harder implementation with a waiver on interest and punishments for the period 2012-2015:

“We will give them a 45-day window to come forward and register and that will make them eligible for that waiver.A lot of people who are not in the tax net are a bit jittery or afraid to come and register, thinking that we might go back two or three years and the amounts might be considerable ."