By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Our mandate is to collect taxes, not to grant tax waivers to taxpayers – FIRS
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Our mandate is to collect taxes, not to grant tax waivers to taxpayers – FIRS

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: September 19, 2022
Share
3 Min Read
SHARE

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami has disclosed that the mandate of the Service is to collect taxes that are due to the federation and the Federal Government not to grant tax waivers to any taxpayer in the country.

Nami stated this in a swift reaction to the news making the rounds that some companies among them Dangote Sinotruck Limited, Lafarge, Honeywell, etc had been granted tax waiver on pioneer status between 2019 and 2021 in the sum of N16 trillion by the FIRS and the other Federal Government agencies.

In his reaction, Nami stated that “FIRS does not have the power or responsibility of facilitating or even implementing tax waivers to investors in Nigeria. There are relevant agencies of government that are charged with such responsibility.”

He, however, noted that the Service is not unmindful of the objectives of granting tax waivers to investors, which he said include “helping to grow local companies, stimulate economic growth, and earn investors’ confidence”. He also stated that he is “confident that the companies which are now enjoying tax breaks will eventually exit shortly and begin to pay taxes to the Federal Government as is currently being done by the companies that have equally enjoyed such tax breaks in the past and are now paying taxes in hundreds of billions of naira. Such companies will continue to pay taxes to the government so long as they remain in business.”

- Advertisement -

The FIRS Executive Chairman also clarified that “the companies enjoying the Pioneer Status will be exempted from paying only the Direct Taxes (eg CIT, EDT) from their profits but will continue to act as agents of collecting and remitting Indirect Taxes (eg VAT, WHT) in the ordinary course of their operations”.

He concluded the statement by emphasising that he remains focused on the task of achieving the mandate of the Service which is to assess, collect, and account for taxes due to the federation and the Federal Government. This task, he noted, “is challenging, more so at this time of global economic disruption occasioned by the Russia-Ukraine war and the Pandemic. However, the Management is steadfast in achieving the target set for it by the Federal Government. For instance, last year the Service surpassed its target by collecting an unprecedented amount of N6.4 trillion in taxes. So far this year, the Service is poised to perform even better than its record for last year.”

He then called on the stakeholders to join hands with him to grow the nation’s economy.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FIRS
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Court fixes Wednesday to rule on FG’s suit against ASUU
Next Article Chris Ngige FG will adjust workers’ salaries to meet current realities — Chris Ngige

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,565.00
GBP
Buy₦1,760.00
Sell₦1,790.00
EUR
Buy₦2,135.00
Sell₦2,170.00

Updated: 8 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

MTN Mega Billion Promo: How Nigerians Are Winning Big
Partners
As Nigerian Banks Resume Naira Debit Card International Transactions: Limits You Should Know
News
Former Nigerian Army Chief Advocates for Compulsory Military Training
News
NNPP Declares Rabiu Kwankwaso Will Not Contest 2027 Presidency on Its Platform
Politics Top stories
NSA Nuhu Ribadu
Tinubu Administration Making Headway Against Nigeria’s Security Challenges, NSA Ribadu Affirms
Security
- Advertisement -
Ad imageAd image

You May Also Like

Politics

Aregbesola Warns ADC Supporters Against Insults, Urges Fact-Based Engagement with APC

Muhammad A. Aliyu
Muhammad A. Aliyu
July 5, 2025
International

President Bola Tinubu Arrives in Brazil for BRICS Summit to Strengthen Global South Cooperation

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 5, 2025
Natasha Akpoti-Uduaghan
News

Senate Sets Conditions for Senator Natasha Akpoti-Uduaghan’s Return After Court Nullifies Suspension

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 5, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?