Business
Expert Wants Employees Captured In New Tax System
Following the alleged po
rous tax system in the country, the Federal Government has been urged to ensure that all employees are captured in the country’s personal income tax system.
A tax expert, Mr Thompson Dikeh, in an exclusive interview with The Tide, Monday in Port Harcourt, noted it was incumbent on the Federal Government to compel all non-registered, but profitable business outfits operating in the country to pay tax.
He said if the government follows the system, it would enlarge the country’s statistics of the taxable population.
It would be recalled that the former president, Goodluck Jonathan sometime in December, 2011, signed the Personal Income Tax Amendment Act into law.
Dikeh who operates a private tax firm, Thompson Tax Consultancy said the amended tax law had reduced the cumbersome nature of taxable items in the country.
He also called on the government to expand other tax areas like informal, but profitable ventures carrying out their operations in Nigeria.
According to him, if some informal business operators like second-hand car dealers begin to pay their Personal Income Tax, the country tax base would increase positively.
He explained that most of them that are not meaningfully employed use it as an alibi saying they must be taxed, if the country wants to make any head-way in its Personal Income Tax system.
The tax expert maintained that since the new tax system encourages lower tax than the old one, that many taxable people should own up and assist the Federal Government to increase its tax income by paying their Personal Income Tax.
He also urged the government to be bold on the issue and build its portfolio to reduce pressure on income from crude oil sales.
He regretted that most business outfits in the country were not registered, saying such practices aid tax evasion.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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