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Our mandate not to grant waivers to taxpayers—FIRS  

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 The Executive Chairman Federal Inland Revenue Service FIRS Muhammad Nami says the mandate of the service is to collect taxes due to the federation and the Federal Government Nami in a statement issued in Abuja by his Special Assistant on Media and Communication Johannes Wojuola said that FIRS did not grant tax waivers to any taxpayer in the country He was reacting to some media reports that some companies including Dangote Sinotruck Limited Lafarge Honeywell were granted tax waiver on pioneer status between 2019 and 2021 in the sum of N16 trillion by the FIRS and other agencies According toNami FIRS does not have the power or responsibility of facilitating or implementing tax waivers to investors in Nigeria There are relevant agencies of government that are charged with such responsibility he said Nami however said that the Service was not unmindful of the objectives of granting tax waivers to investors This includes helping to grow local companies stimulate economic growth and earn investors confidence I am confident that the companies which are now enjoying tax breaks will eventually exit shortly and begin to pay taxes to the Federal Government This is as it 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 Nami further said that the companies enjoying the pioneer status would be exempted from paying only the direct taxes from their profits But will continue to act as agents of collecting and remitting Indirect Taxes VAT WHT in the ordinary course of their operations he said He emphasised that FIRS remained focused on the task of achieving its mandate of assessing collecting and accounting for taxes due to the federation and the Federal Government This task 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 in 2021 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 2021 he said Nami urged stakeholders to join hands with the Service to improve the nation s economy NewsSourceCredit NAN
Our mandate not to grant waivers to taxpayers—FIRS  

Executive Chairman

The Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami says the mandate of the service is to collect taxes due to the federation and the Federal Government

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Special Assistant

Nami, in a statement issued in Abuja by his Special Assistant on Media and Communication, Johannes Wojuola, said that FIRS did not grant tax waivers to any taxpayer in the country. 

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Sinotruck Limited

He was reacting to some media reports that some companies including Dangote, Sinotruck Limited, Lafarge, Honeywell, were granted tax waiver on pioneer status between 2019 and 2021 in the sum of N16 trillion by the FIRS and other agencies.

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According toNami, FIRS does not have the power or responsibility of facilitating or implementing tax waivers to investors in Nigeria.

“There are relevant agencies of government that are charged with such responsibility,” he said. 

Nami, however, said that the Service was not unmindful of the objectives of granting tax waivers to investors. 

“This includes helping to grow local companies, stimulate economic growth and earn investors’ confidence. 

Federal Government

“I am confident that the companies which are now enjoying tax breaks will eventually exit shortly and begin to pay taxes to the Federal Government. 

“This is as it 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.

” 
Nami further said that the companies enjoying the pioneer status would be exempted from paying only the direct taxes from their profits. 

Indirect Taxes

“But will continue to act as agents of collecting and remitting Indirect Taxes (VAT, WHT) in the ordinary course of their operations,’’ he said. 

Federal Government

He emphasised that FIRS remained focused on the task of achieving its mandate of assessing, collecting and accounting for taxes due to the federation and the Federal Government. 

“This task is challenging, more so at this time of global economic disruption occasioned by the RussiaUkraine war and the pandemic. 

Federal Government

“However, the management is steadfast in achieving the target set for it by the Federal Government. 

“For instance, in 2021, 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 2021,” he said. 

Nami urged stakeholders to join hands with the Service to improve the nation’s economy.

NewsSourceCredit: NAN

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