Nigeria to Target Tax Defaulters in Bid to Spur Economy

Nigeria’s finance minister plans to drag tax defaulters who don’t make use of an amnesty to court as she seeks funds to plug the nation’s $25 billion infrastructure gap.

In the nine months of reprieve ending March, some penitent taxpayers have said “you got me” and cleared arrears without paying interest and or penalties, Kemi Adeosun said in an interview on Tuesday in her office in the capital, Abuja. But some have said “we wish you luck with this, catch us if you can,” she said.

Kemi Adeosun

Nigeria wants to double its tax to gross domestic product ratio by 2020. The current proportion of 6 percent is among the lowest in the world, with peers like South Africa at 26 percent, and Ghana, its West African neighbor, at almost 16 percent.

Boosting tax collection will make more money available to help spur activity in an economy that contracted in 2016

... read more at: https://www.bloomberg.com/news/articles/2018-01-26/nigeria-going-after-tax-defaulters-who-say-catch-us-if-you-can

by