Should the Federal Government approve the slash in the cost of collection proposal by the Presidential Fiscal Policy and Tax Reform Committee, all revenue generating agencies will henceforth earn one per cent on the revenue they generate. The agencies that will be affected most are: the Federal Inland Revenue Service (FIRS), which receives four per cent as cost of collection; Nigeria Customs Service (NCS) seven per cent and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) five per cent. Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Mr. Taiwo…
Read MoreTax Reforms Panel Proposes 1% ‘Cost Of Collection’ For Customs, FIRS, NPA, Others
