Why Nigeria Should Introduce Inheritance Tax – FIRS

The Federal Inland Revenue Service (FIRS) said the Federal Government should introduce inheritance tax. 
According to FIRS, the introduction of inheritance tax will reduce corruption in the country.
Speaking at a 3-day training, elightenment and education programme organised for Multi-media and Publishers Association of Nigeria (MPAN) on tax process and operations, FIRS representative, Mr Chimenka Ezeribe, said tax laws must be enforced.
According to Ezeribe, Nigeria needs inheritance tax, adding, “the law should be made for people who are serving in public offices. If such tax is introduced, it will reduced corruption.”
Ezeribe said if public servants knows that even after they died, people who inherited their wealth will pay serious taxes, they won’t engage in corruption.
“As it is today, Nigeria don’t have inheritance tax,” Ezeribe said.
Speaking further, Ezeribe said even money donated to people are to be taxed adding that his mother in the village that earned income from her children, is supposed to pay tax.
“Nobody is doing that but she is supposed to be taxed, Ezeribe said adding that tax laws done ask for sources of income.
“Once it is income, the law says you should be taxed. So, before Police comes after you or before the EFCC comes after you, incase the source of money is questionable, tax might have been collected,” he said adding that FIRS is coming to a level where people can’t escape from being taxed appropriately.
“We always tell auditors and others that they should ensure the right thing is done. When FIRS tells you it collected N6.4trillion as tax in a year, it include the Value Added Tax (VAT) collection and other money shared with the states,” he said.
According to him, education tax collected by FIRS goes to Education Trust Fund while a good portion of taxes they collected also goes to National Information Technology Development Agency (NITDA).
“If you earned below minimum wage, you are exempted from paying tax. Those that earned more are taxed at 24 percent, those that earned small are taxed seven percent while those below the minimum wage don’t pay taxes,” Ezeribe said
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