Monday, 5 December 2016

Increasing PAYE Tax is Inhuman and Wickedness, Federal Government Should Do Something About It- Gov. Ayodele Fayose

The governor of Ekiti State, Governor, Peter Ayodele Fayose, has called on the Nigerian Federal Government to cancel the law of its decision to reduce workers’ salaries through obnoxious increment in Pay As Your Earn PAYE, pension and National Housing Fund deductions.
According to the Punch News, Gov. Fayose said with the deductions, some workers now have as much as 30 percent of reduction in salaries.
Gov. Fayose described it as a wicked and inhuman for any government to increase taxes on workers, salaries at the period of economic recession when the ‘workers take-take home pay can no longer take them home.’
In his words, Fayose said, “The Nigerian Federal Government should stop believing that the only way it can take Nigeria out of recession is to impose obnoxious taxes that will further impoverish the people.”
According to Source, Gov. Fayose, in a press release issued on Sunday by his Special Assistant on Public Communications and New Media, Lere Olayinka, advised against increasing taxes that would reduce what workers earn when “government does not have the capacity to increase workers’ salaries at this trying period.”
Fayose explained that it appears that the Buhari led-administration desire was to kill Nigerians with obnoxious taxes.
In his words, he said, “As a military Head of State, Buhari used force to deal with Nigerians, now as a civilian President; he is using economic recession to punish Nigerians and adding insult to injury by using inhuman taxes to reduce workers’ salaries.
“Buhari’s government increased petrol prices from N87 to N145 per litre, kerosene; diesel and gas price were increased, electricity tariff was increased, N50 stamp duty was imposed on bank customers, N65 levy was imposed on every withdrawal on ATM, various bank charges introduced, custom duties increased and now workers’ PAYE tax has been increased.
“I sympathize with the Federal Government’s workers who only got to know about reduction of their salaries when they got credit alert last month, but they should remember that I warned them.
“Workers are already facing hardships owing to the economic recession, which has caused exchange rate to rise to as much as N480 to $1. The implication of this is that the purchasing power of a worker that is earning say N100,000 per month has reduced to less than N50,000 per month, meaning that what such a worker bought at N10,000 this time last year is now at N25,000.”