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9th Senate Vows To Renegotiate Tax waivers Before May 29th

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Janet Samuel, Abuja

The President of the Senate, Ahmad Lawan has said that the 9th senate will use the remaining 6 months of its lifespan to review or renegotiate some waivers, tax holidays and concession granted to investors and businesses by the Federal Government of Nigeria.

 

Lawan who made this known at an occasion to mark his 64 birthday anniversary on Thursday in Abuja said that most of the waivers and concessions need to be reviewed to generate more money into government coffers and minimise borrowing.

The Senate President said the move has become expedient and instructive due to leakages and loopholes in tax collection and remittances to the government amid revenue shortfalls and high debt profile in the country.

 

“So we will review the waivers, where the wavers cannot be sustained anymore such waivers should be reversed or renegotiated but definitely we need to work hard to improve on the revenue generation of the nation by the MDAS and other government agencies

 

“So for us at the Senate we have decided that for the remaining part we will continue to engage revenue generating agencies until we get better outcomes from them. This is possible and also the concessions and the waivers the government has given to some companies and individuals we may have to review that, certain things have to go on but certain other things have to be reviewed. Every kobo counts because we have a very difficult situation.”

 

 

According to him, ” the government cannot continue to go borrowing because it is not sustainable. We have to look inward and generate more money to execute landmark projects and fund infrastructures “

 

Senator Lawan also frowned at the recent report by the National Bureau of Satistics (NBS) which says there are more poverty ravage Nigerians in the North East and North West saying that the people in the zones need not to be poor if government can invest in livestock business

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