FIRS Blames Tax Waivers, Illicit Financial Flows for Underperformance

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James Emejo in Abuja The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami Thursday identified non-discretionary tax waiver grants, illicit financial flows abroad and high overhead costs as major reasons for the failure of the agency to meet its tax revenue targets in recent times. Speaking during the Senate’s interactive session with revenue generating agencies aimed at improving the internally generated revenue (IGR) of the federal government through non-oil revenue sources, Nami said the country loses a lot of revenue through tax waivers granted to major companies. Nami said:“Nigeria loses a lot of revenue through tax…
Source: FIRS Blames Tax Waivers, Illicit Financial Flows for Underperformance

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