The Federal Government of Nigerian has stated that it has finalized plans to register and tax foreigners working and earning income in the country.
This, the FG said, will take place following the proposed amendment to the National Identity Management Commission, NIMC Bill, 2024.
This was contained in a stated by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, while briefing State House correspondents on Wednesday in Abuja.
The SA, stated that the proposed NIMC Bill was part of the Economic Stabilization Bills approved by the Federal Executive Council, FEC, on Monday. He noted that the Bill will soon to be forwarded to the National Assembly for consideration.
According to him, the Economic Stabilization Bills comprised many bills. And include a bill on the plan to amend the NIMC Bill 2024.
He said, “This Bill will amend the law that was made some years ago. And it now provides, if the National Assembly passes that Bill, that everybody living in Nigeria, foreigners, all of them, will now be registered and be given tax identity.
“Once you are doing some work here and you are earning income, you will be registered and given tax identity. And you will be taxed, and you come under our tax structure.
“The law that was set up initially precluded foreigners from being registered, and so they were not taxed.”
Onanuga emphasized that another Bill, which was part of the Economic Stabilization Bills, had to do with the operating laws guiding the Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Port Authority, NPA.
The SA stated that some other Bills are a component of the Economic Stabilization Bills. These, he said, are the Tertiary Education Trust Fund Amendment Bill 2024, an element of the Nigerian Education Loan Fund.
He pointed out that an amendment had been proposed to the Tertiary Education Trust Fund Act. And this stipulated that before disbursement of the amount in the fund, 30 per cent would be transferred to the Nigerian Education Loan Fund.
According to him, the amount would provide a ready-made source of funding for the Nigerian Student Loan Fund scheme.
Recall that FEC recently approved the Economic Stabilization Bills. The Bills proposed specific measures, draft laws, and policies aimed at improving the overall economic environment.
The Economic Stabilization Bills also include proposals for other amendments. These are the amendment of the Foreign Exchange Act, Companies Income Tax Act and Fiscal Responsibility Act.
source: Daily Post
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