YNP. YOUNG NIGERIANS PARTY

YOUNG NIGERIANS PARTY (YNP).
LESS TAXES AND MORE PROSPERITY BALANCE.
The tax reform and the reduction of taxes are going to be a constant policy in the next two legislatures.
As from 2019, we are going to double the Income Tax on Individuals (ITI) twice with a total reduction of 25%, especially for the lowest incomes.
With the first reform of the Income Tax on Individuals (ITI) we are going to save 2,139,714 million naira a year, with the new reform.
The new Income Tax on Individuals (ITI), reduces the tax burden of all taxpayers by an average of 11%; and, especially of the lowest incomes, for taxpayers with incomes lower than 5,135,313 naira, the reduction is 38%.
It also encourages the reconciliation of family and work life and support to the birth rate by 40,000 naira monthly for more than 600,000 mothers who work outside the home and with children under three years of age; and favors the collectives with more burdens, such as the elderly and the disabled.
We will eliminate the Tax on Economic Activities (TCA) for the two million three hundred thousand self-employed people, and we will improve the taxation of small and medium business and family businesses, introduce deductions for reinvestment of capital gains.
We will extend the rate reduce of 30% in the Tax on Companies to the companies that invoice less than 3 million naira. In the Corporate Tax we will increase the incentives for internationalization and R + D + i to make them the most important of the Organization for Economic Cooperation and Development (OECD).
As from 2019, we will reinforce taxpayer assistance and we will improve the results in the fight against fraud. The Tax Agency will be recognized internationally for its management, among others
issues, to the use of new technologies.