From Our Correspondent
The Federal Government will now begin to register and tax the incomes of foreigners working in Nigeria under a proposed amendment to the National Identity Management Commission (NIMC) Bill, 2024.
TheNewsZenith reports that Mr Bayo Onanuga, Special Adviser to the President, Information and Strategy, announced the new policy while newsmen at State House, on Wednesday in Abuja.
Onanuga said the proposed NIMC bill “is part of the Economic Stabilisation Bills (ESBs), which the Federal Executive Council approved on Monday”.
He said the Presidency would soon forward the bill to the National Assembly for consideration.
According to him, the ESBs comprise several proposed legislation. It included a bill on the plan to amend the NIMC bill, 2024.
“This bill will amend the law, made some years ago. It now provides, if the National Assembly passes it, that everybody living in Nigeria, especially foreigners.
All of them will now be registered and be given tax identity.
“Once you are doing some work here and you are earning income, you will be registered and given tax identity and you will be taxed. You come under our tax structure.
“The law that was set up initially precluded foreigners from being registered, and so they were not taxed,” said Onanuga.
Another bill under the ESBs, is the Tertiary Education Trust Fund (TETFUND) Amendment Bill 2024, an element of the Nigerian Education Loan Fund.
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“Some people may have been wondering, how are we going to fund the loans we are giving to Nigerian students? I think the government has provided an answer.
“Most of the funding will also come from the money going to the TETFUND,” he said.
He said an amendment had been proposed to the Tertiary Education Trust Fund Act.
The Act stipulated that TETFUND would transfer one-third annually of the approved fund to the Nigerian Education Loan Fund, before disbursement.
Onanuga said that would provide a ready-made source of funding for the Nigerian Student Loan Fund.
He said another bill, which is part of the ESBs, dwells on operating laws guiding the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA).
“Amendments are also proposed so that all their fees, charges, levies and fines accruing to them will now be paid in Naira at the applicable exchange rate.
“Presently those agencies are only charging in dollars, but with the proposed bill, they will now charge in Naira.
“The government wants to emphasize our national currency. Instead of everything being dollarised in our economy, the government is now saying, pay in Naira,” said Onanuga.
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