The Lagos State Government has unveiled a plan to generate N200 billion additional revenue from two million people every year by bringing in more categories of taxable people into the tax net.
Among those being targeted are freelancers and social media influencers. The overall aim of the government is to boost the state’s internal revenue to N5 trillion.
The government said it had identified four core sub-sectors of the state’s economy, with the potential for additional revenue generation to help the state achieve an additional IGR of about N2.73 trillion.
The sub-sectors identified include informal sector, property, digital economy, and circular economy, with energy and IPPs serving as support pillars for overall economic development.
The government said it planned to implement a resident global digital citizen tax management system. targeting remote workers for foreign firms, gig workers, freelancers, influencers, and shared economy operators.
The government hopes to generate N200 billion annually from approximately two million people.
Part of the strategy also includes the accreditation and licensing of digital economy practitioners and operators, such as platform owners, e-commerce operators, shared economy platforms, online education platforms, marketplaces, and food delivery platforms.
