Senate kicks Against N17trn Loss On Tax Waivers

Senate kicks Against N17trn Loss On Tax Waivers

February 19, 2024 0 By Fasholu Gabriel Oluwatobi

The Nigerian Senate has taken a swipe at the  N17 trillion loss uncured by the country on tax waivers within the last five years.

The Senate’s  objection to the allegedly abused tax waivers came up on Monday during the 2024 budget presentation of the Federal Inland Revenue Service, FIRS before the Senator Sani Musa, led Senate Committee on Finance.

In his remarks at the budget presentation session, the Chairman of the Committee, Senator Sani Musa who told the FIRS Chairman that tax waivers abuse which has cost the country about N17 trillion loss within the last five years should be suspended and substituted with rebating system.

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