The Chairman of the Presidential committee on Tax and fiscal policy reform, Taiwo Oyedele, says the current tax waivers granted by the government which amounts to N6 trillion annually is worrisome and should be reviewed.
Speaking during a Telivised interview, Oyedele expressed concern over the implications of incurring losses equal to the same amount generated as revenue, stating that such economic policy is counterproductive.
Oyedele also noted that the government is working on a technology driven database that captures and highlights individuals and entities qualified to benefit from government tax waivers and incentives.
He added that he has requested that government suspend value added tax on diesel for very obvious reasons as well as suspend vat on import duties and compressed natural gas.
