Vice President Yemi Osinbajo says Nigeria is set to utilise its legal provisions that empower the Federal Government to collect taxes on profits made in the country by global technology and digital firms not based in the country, but with a significant economic presence here.
The Vice President says it is already empowered to widen the tax net, including through the collection of taxes on the Nigerian income of global tech giants with a significant economic presence here, even if they have not established an office or permanent establishment and are currently not paying taxes in Nigeria.
He says they have had severe economic downturns which of course imply that we may not be able to collect taxes with the aggressiveness that would ordinarily be expected.