February 22, 2024
Senate Panel Asks FG To Stop Tax Waivers, Concessions
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Senate Panel Asks FG To Stop Tax Waivers, Concessions

The Senate Committee on Appropriations yesterday urged the Federal Government to stop tax waivers and concessions already granted to corporate entities.

The panel said the country was losing huge revenue to tax waivers and incentives. It, however, suggested that all companies should pay their taxes in full to the government coffers and then request for a rebate.

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The chairman of the committee, Senator Adeola Olamilekan, and other members made the recommendation during an interactive session on the 2024 budget with the finance minister, Mr. Wale Edun, who said Nigeria lost about N3 trillion to tax waivers this year, and his counterpart from the budget and economic planning ministry, Atiku Bagudu.

 

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