), on Monday said the Federal Government proposed in the 2020 Finance Bill to exempt minimum wage earners. He said the move was to reduce the impact of inflation on Nigerians, adding that the initiative would exempt minimum wage earners from the Personal Income Tax. Osinbajo also explained that the Federal Government would buy locally assembled cars rather than imported foreign ones. He said, “We are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax. “So the logic was increase the duty and levies so that local production becomes more competitive.

Source: Punch November 23, 2020 23:26 UTC