In a move to counter the adverse impact of the removal of petrol subsidy on businesses, Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, proposed the suspension of Value Added Tax (VAT) on diesel. Oyedele shared this during an appearance on Channels Television’s Sunrise Daily program, as reported by Naija247news. |
Chairman of Presidential Committee on Tax Policy and Fiscal Reforms Taiwo Oyedele is pushing for FIRS to collect revenue for ministries, departments & agencies.
They should not underestimate the challenges of collapsing all these revenue-collecting institutions into one single channel. Perhaps there can be a pilot of one or two institutions and see how it works so that you don’t just jump into it and create all manner of confusion. What is important is that the budget of these institutions should not be disrupted in terms of funding.” he concluded.
The Presidential Committee on Tax Policy and Fiscal Reforms has revealed that the Nigeria Customs Service and 62 other Ministries, Departments and Agencies (MDAs) of the Federal Government will cease direct revenue collection. Instead, the Federal Inland Revenue Service (FIRS) will take over revenue collection for the MDAs. The Chairman of the Committee, Taiwo Oyedele, |