Oxfam Nigeria, a non-profit organisation, says 99 percent of the country’s wealthiest citizens evade or avoid paying taxes, while millions of Nigerians struggle to afford their next meal.
Oxfam spotlighted the deepening inequality crisis in Nigeria in the reports titled ‘Income and Wealth Inequality in Nigeria: Trends and Drivers,’ and ‘Taxing the Rich Fair Tax Monitor’.
The reports, covering 10 years, were conducted by Oxfam in Nigeria, the Tax Justice Network Africa, and the Civil Society Legislative Advocacy Centre (CISLAC).
“This represents a compliance rate of just 0.
035%, meaning that over 99% of Nigeria’s wealthiest citizens evade or avoid paying taxes.
According to the report, implementing a progressive wealth tax could generate over $7.
5 billion annually...
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