The Federal Inland Revenue Service has accused some multinationals operating in Nigeria of not paying the required tax to government by lying on their pioneer status to get tax exemption for five year
s instead of the three years prescribed by the law.
According to the FIRS, the MDAs are insisting that the contracts they awarded were based on the old five per cent rate and, therefore, could not pay the 7.5 per cent at the point of consumption. Nami said the executive order was for the use of technology to monitor transactions in the non-oil sector.
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