The Nigeria Revenue Service (NRS) has identified the poor as the main beneficiaries of the new Tax law introduced by President Bola Tinubu.
NRS Executive Chairman, Zacchaeus Adedeji, explained that the government is not increasing taxes, adding that more than 95 percent of the poor are fully exempted under the new reforms.
Adedeji also highlighted that the removal of Value-Added Tax (VAT) on all food items benefits the poor, as about 90 percent of their disposable income is spent on food.