Nigeria says it recovered $83 million from tax-amnesty scheme
Thursday, June 07, 2018
A man counts a bundle of Nigerian naira banknotes. Net.

Nigeria’sgovernment has recovered  $83 million under an amnesty programme for tax defaulters, according to the finance ministry.

The money was collected from individuals and companies under the so-called Voluntary Assets and Income Declaration Scheme, the Abuja-based finance ministry said Wednesday in a statement. Those that participated will receive certificates showing they’ve complied, it said.

President Muhammadu Buhari’s administration launched the scheme to boost revenue collection in a country that has a ratio of tax to gross domestic product of around 6 per cent, one of the lowest in the world. That compares with 27 per cent in South Africa and 16 per cent in Ghana.

Agencies