Nigerians React As Finance Minister Says New Taxes Coming in 2022

Nigeria’s Finance Minister, Zainab Ahmed has said that Nigerians should expect new taxes in 2022, as the economy continues on the path to recovery.

Ahmed made the statement at a public hearing on the 2021 finance bill on Monday, December 13, in Abuja, She said that some reforms and amendments had been recommended in the draft 2021 Finance amendment bill, and more will be introduced in the middle of 2022.

The Finance minister said, “While these issues may require most increases in taxes and tariffs on certain businesses, industries, and individuals over the medium term, our aspiration is to do a midterm review with a possibility of another Finance Bill in mid-year 2022 to bring in more amendments.”

“We prepared this draft bill along five reform areas, the first domestic revenue mobilisation, the second is tax administration and legislative drafting, third is International taxation, fourth is financial sector reforms and tax equity and fifth is improving public financial management reform.

The provision in the draft bill is proposing to amend the Capital Gains Tax Act, Company Income Tax, FIRS Establishment Act, Personal Income Tax, Stamp Duties Act and Tertiary Education Act, Value Added Tax, Insurance Police Trust Fund, and the Fiscal Responsibility Act.

This is to amend the Police Trust Fund Act and the Nigerian Trust Fund Acts, the purpose is to empower the FIRS to collect the Nigerian trust fund levies on companies on behalf of the fund itself,” the finance minister said.

The statement by the Minister of Finance elicited outrage from some Nigerians, who took to social media to blast the current administration.

They wondered why the government is bent on making life harder for Nigerians.

Here are some reactions gathered by GreenWhiteGreen

@iam_igbinedionsammy More hardship for Nigerians. They’ll never talk about increasing the minimum wage. Its policies will make life difficult for Nigerians they’re always making. Awon werey also.

@nellynells_ Always looking for how to extort us

@engr_topman_tech welcome to the country that derives pleasure in displeasing her citizens without solving any problem for the nation.

@official_samvail How to take from us is what they’re at best at.

@realkunle Despite the high taxes wey una collect for 2021, Na huge dept una drag us put… una no go die well

@obidyke_ No enabling environment for anything, no support for business but they can collect tax on product they don’t understand how it works..jsut to steal from us and embezzle free mone. Too bad

@meekmatured22 Ranging from most useless president to most useless CBN governor to finance minister to information minister!!… Government of useless men & women.

@justfabsandy And then do what with the taxes?? Bad roads, no light, no security! On top of a country that has no plans or provisions made for the poor! Rubbish criminals

@anuoluwapohorla The only thing this government is good at is looking for more ways to frustrate Nigerians. So sad

@diva_ella With no show for the ones that people have been paying? With no accountability? What do these people take us for for crying our loud ??

@olusegun396 Dis one no dey ever get encouraging policy for her life

@papoosky_101 Are we gonna sit n allow dis twats steal our money right under our nose.. d rest of d world is waking up to dis nonsense why are we still sleeping suffering n smiling in Nigeria

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