tax waivers – InfoStride News

Senate Urges FIRS to Suspend Tax Waivers, Embrace Rebating System

Ifeanyi Nwagboso — Mon, 19 Feb 2024 16:00:16 +0000

The Senate’s Committee on Finance has expressed concern over the N17 trillion loss incurred by Nigeria in tax waivers over the past five years. During the 2024 budget presentation of the Federal Inland Revenue Service (FIRS) to the committee, senators called for the suspension of tax waivers, which they believe are being abused, and advocated [...]

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Federal Government Establishes Committee to Address N1.3 Trillion Loss in Customs Revenue Due to Tax Waivers

Temitope Nlewemchi — Fri, 15 Dec 2023 10:23:58 +0000

In a significant development, the federal government, under the leadership of President Bola Tinubu, has unveiled plans to establish a dedicated committee tasked with the comprehensive review of existing tax waivers granted to individuals and organizations nationwide. The crucial announcement was made by the Minister of Information and National Orientation, Mohammed Idris, following a pivotal [...]

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Oyedele Sounds Alarm: N6 Trillion Annual Tax Waivers Threaten Revenue Generation

Temitope Nlewemchi — Fri, 24 Nov 2023 21:16:08 +0000

The Chairman of the Presidential Committee on Tax and Fiscal Policy Reform, Taiwo Oyedele, voiced concern about the annual loss of up to N6 trillion in tax waivers in Nigeria, equivalent to the country’s yearly revenue. Oyedele disclosed this during an appearance on the “Sunrise Daily” program on InfoStride News, dated November 24, 2023. Confirming [...]

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