The Federal Government of Nigeria don announce say dem earn N103.7 billion from cash transfer taxation. Dis figure show say the government dey make serious money from dis new tax policy.
Dis cash transfer taxation be part of the government’s efforts to increase revenue and reduce dependence on oil. The tax dey applied to certain financial transactions, and it has been generating significant income for the government.
The Minister of Finance, Budget and National Planning, no give detailed breakdown of how the money go be used, but dem say it will help in funding various government projects and initiatives.
Experts believe say dis new revenue stream go help Nigeria’s economy grow and stabilize, especially as the country dey face economic challenges.
The government also dey encourage Nigerians to comply with the tax laws to ensure more revenue is generated for the development of the country.
