Mr Olatunji Babatunde, a union leader has advised the Nigerian Government to sustain its tax holiday policy by ensuring that its implementation is adequately monitored to forestall corrupt practices.
Babatunde, President, National Union of Chemical, Footwear, Leather and Non-Metallic Product Employees (NUCFRLANMPE) spoke to the News Agency of Nigeria (NAN) on Tuesday in Lagos.
The International Monetary Fund (IMF) urged the Federal Government to phase out tax holidays and exemptions eroding the Company Income Tax base.
Mr Amine Mati, IMF Senior Resident Representative and Mission Chief for Nigeria, Africa Department spoke in Lagos in October.
The NUCFRLANMPE president said that if carefully implemented, the tax holiday would attract foreign direct investment and domestic investments which would invariably generate employment.
He said that with the tax holiday,…
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