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Informal sector tax crucial for revenue drive – Experts

Economists have said that taxing the informal sector is crucial to the federal and state governments’ non-oil revenue drive.

According to various reports, the informal sector, which consists of micro, small and medium enterprises, makes up 50 per cent of the nation’s GDP.

There is a need to properly extend the tax bracket to the informal sector in the light of dwindling oil revenue and heavy debt servicing which were reducing incomes for the federal and the state governments

Source: Punch