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Tax credit schemes unsustainable, says MPC member

A member of the Monetary Policy Committee, Mike Obadan, has said Nigeria’s tax credit schemes are unsustainable.

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Finance Bill: Dangote, 7UP, 170 firms may lose N2 4tn tax waivers

Finance Bill: Dangote, 7UP, 170 firms may lose N2 4tn tax waivers
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Exemptions, waivers and zero awareness on taxation

IT was reported by several news media in September that the Federal Government of Nigeria had foregone a mind-boggling sum totaling N16.76tn in revenue to

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Nigerian Government Grants Over N16Trillion Waiver To Dangote, Honeywell, Others Amid Ailing Economy

President Muhammadu Buhari's administration has reportedly waived the sum of N16.76tn in revenue to tax reliefs and concessions given to large companies between 2019 and 2021. The beneficiaries of the tax reliefs and concessions included Dangote, Lafarge, Honeywell and 43 other major beneficiaries. At least 46 companies had benefitted from various tax incentives and duty waiver schemes as of the end of 2021, while the requests of 186 companies were still pending, The PUNCH reports.

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