Tuesday, December 22, 2015 6:43 am
Nigeria’s tax laws are heading for a makeover to address inherent inadequacies.
The Federal Executive Council (FEC) approved the review on Monday.
The Minister of Information, Alhaji Lai Mohammed, made this known while briefing State House correspondents on the outcome FEC meeting presided over by President Muhammadu Buhari.
According to him, the review will plug the loopholes and subsequently address the inadequacies in the tax regime.
He observed that the inadequacies had been exploited by both individuals and corporate organisations to evade tax which had led to loss of revenue to the government.
“So, the new review aims at plugging these loopholes.’’