JUST IN: House Of Representatives Directs Federal Inland Revenue Service To Recover Over Five Trillion Naira Taxes From MDAs, Oil Companies

Meanwhile, the House of Representatives has directed the Federal Inland Revenue Service to recover all taxes totaling over N5.19trn owed the Federal Government by Ministries, Departments and Agencies, oil companies as well as individuals<<<READ FULL ARTICLE>>>

The resolution followed the adoption of a motion on the floor of the House on Thursday, moved by member representing Oredo Federal Constituency of Edo State, Esosa Iyawe.

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Esosa argued that under-remittance and non-remittance of tax deprive the Federal Government of much needed funds to drive its policies for national development, stressing that if the situation is not urgently addressed, the effect could be crippling on the country’s already dwindling economy.”

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This is just as he maintained that small-scale businesses in Nigeria are frustrated by multiple taxation by the FIRS, while States and Local Government Authorities, multinational companies and other corporate organisations are getting the kid-glove treatment.

Following the adoption of the motion, the House urged FIRS to embark on tax recovery drive while also mandating the Committees on Public Accounts and Finance to investigate the non-compliance on tax remittance by MDAs of government, Oil Companies and other organisations, with a view to ensuring that all debts in taxes owed the Federal Government are duly recovered, and report back within four weeks for further legislative action<<<READ FULL ARTICLE>>>

By – Opeyemi Micheal-Ayobami

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