In a session focused on the 2024 budget presentation of the Federal Inland Revenue Service (FIRS), the Senate Committee on Finance, led by Senator Sani Musa, expressed dissatisfaction with the reported N17 trillion loss incurred by the country due to tax waivers over the last five years. The committee raised concerns about the allegedly abused tax waivers and urged the FIRS to suspend their implementation, recommending the adoption of a rebating system as an alternative. The Chairman of FIRS, Zacch Adedeji, presented a targeted total tax collection of N19.4 trillion…
Read MoreSenate Criticizes N17 Trillion Loss to Tax Waivers, Urges FIRS to Adopt Rebating System
