Browsing: Tax

After scaling Second Reading during plenary on Thursday, the President of the Senate, Senator Godswill Akpabio referred the four bills to the Senator Sani Musa, APC, Niger East led Committee on Finance to carry out other legislative action and report back in six weeks.

It is widely agreed by economic experts that tax revenue, not resource revenue, is the most reliable source from which the country can fund her development aspirations as happens in the world’s most progressive societies. Currently, tax compliance in Nigeria is still meagre. Speaking earlier this month at ‘Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill,’ Mohammed Nami, Chairman of the Federal Inland Revenue Service (FIRS), disclosed that Nigeria has 41 million taxpayers among its 200 million population.