By Emma Ujah, Abuja Bureau Chief
The Executive Chairman Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has blamed non-discretionary tax waivers, illicit financial outflows and high overhead costs for the organisation’s failure to meet its tax revenue targets in recent times.
Nami , stated this yesterday in Abuja at a Senate interactive session with revenue generating agencies, aimed to improve the internally generated revenue (IGR) of the Federal Government through non-oil revenue sources.
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A statement by Director, Communications and Liaison Department, FIRS, Abdullahi Ahmad, quoted Nami as saying, “Nigeria loses a lot of revenue through tax waivers granted to big companies which otherwise would have been taxed to buoy up government revenue. Also, illicit financial flow is a major cause of revenue loss to Nigeria.
“Coupled with this is…
Source: Vanguard Newspaper