The Federal Inland Revenue Services (FIRS) says Nigeria lost N1.3trillion to granting of tax waivers to companies operating in three sectors of the economy in the last five years.
) says Nigeria lost N1.3trillion to granting of tax waivers to companies operating in three sectors of the economy in the last five years.
Mr Mohammed noted that FIRS had issues with funding of its operations, given the huge personnel cost of the organisation.“This is actually the issues we want the senate to look at when we come up in our quarterly meeting.“We have about 10,000 employees and the little we generate, given the huge personal cost, we are left with little to fund our operation.
He said the inability of the FIRS to meet its target on revenue generation was not unconnected with the issues of insecurity, slow growth and ease of doing business in the country. The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, while making a remark, said there was the need to energise the petroleum sector to generate more funds for the country.He said the smooth working of the oil and gas sector would trigger increased growth of other sectors and the economy in general.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tax waiver: Nigeria lost N1.3trn in 5 years - FIRS – Daily TrustThe Federal Inland Revenue Services (FIRS) says Nigeria lost 1.3trillion Naira to granting of tax waivers to companies operating in three sectors of the economy in the last five years. The Chairman of FIRS, Mr Muhammad Nami, disclosed at an investigative hearing organised by the Senate Committee on Finance for revenue generating agencies in the …
Read more »
FEC approves N1.4bn for Transport Ministry - Premium Times NigeriaMarine fenders are used for preventing ships or boats from colliding with each other.
Read more »
Suspected kidnapper nabbed with N1.7m in Plateau – Daily TrustTroops of Operation Safe Haven (OPSH) have arrested a suspected kidnapper at a checkpoint in Ankwa village of Sanga Local Government Area of Plateau State. The suspect was paraded yesterday with a cash of N1,789,000 at the headquarters of OPSH in Jos. The commander of the operation, Major General Augustine Agundu, said the suspect, who …
Read more »
Tax waiver: Nigeria lost N1.3trn in 5 years - FIRS – Daily TrustThe Federal Inland Revenue Services (FIRS) says Nigeria lost 1.3trillion Naira to granting of tax waivers to companies operating in three sectors of the economy in the last five years. The Chairman of FIRS, Mr Muhammad Nami, disclosed at an investigative hearing organised by the Senate Committee on Finance for revenue generating agencies in the …
Read more »
Nigeria, Ethiopia sign visa waiver agreement for officialsNigeria and Ethiopia have signed a visa waiver agreement for diplomatic and official passport holders, and a Memorandum of Understanding (MoU) on Cooperation in the field of Defence.
Read more »
Nigeria, Ethiopia Sign Visa Waiver Agreement, MoU On Defence Cooperation — PresidencyNigeria and Ethiopia have signed a visa waiver agreement for diplomatic and official passport holders, and a Memorandum of Understanding (MoU) on Cooperation in the field of Defence. Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, confirmed this development in a statement in Abuja on Wednesday. According to the statement, President […]
Read more »