FIRS does not grant tax waiver.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has disclosed that the Service did not grant any tax waiver to any local or foreign investors in the country as the FIRS Act did not empower it to grant such tax breaks.
Mr Nami disclosed on Friday in Abuja during his appearance before the House of Representatives’ Public Accounts Committee investigating alleged tax waivers granted to three foreign firms operating in the country.
The firms are Indorama Petrochemical, Indorama Fertilizer and Petrochemical Ltd and OIS Indorama Eleme Port-Harcourt.
Nami said: “The FIRS does not have the power or responsibility of facilitating or implementing incentives to local investors or investors coming through the Foreign Direct Investment platform, which is the sole prerogative of the Nigerian Investment Promotion Commission (NIPC)”.
