• Sunday, June 23, 2024
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FG sues for urgent  action on Communication tax bill to boost  revenue 

shittu

Amid dwindling revenue resources,the Federal Government is currently  suing for urgent action on communication tax bill which it revealed would enable it harvest more revenues and plug loopholes in the communication’s industry.

The Communication  bill seeks to provide greater bite on the taxation of telcos while covering all the loopholes and addressing possible lopsidedness in the revenue generation from the sector.

Adebayo Shittu,while on a facility tour to the Nigeria Communications Commission,NCC,on Tuesday in Abuja  said the bill has become necessary to enhance the capacity of the telecommunication’s sector to be an alternative source of revenue to the federal government owing to a over 60 percent reduction in oil price,in addition to the increasing attacks on oil facilities by Niger Delta avengers.

shittu
The Minister Of Communication Adebayo Shittu

Shittu said,”The bill if passed will impact maximally on the federal government’s social intervention programme.Many countries globally don’t bank on natural resources for their sustenance,rather they provide social interventions scheme to the people with the money they generated from taxation.

The Minister also re-assured that the bill will address the alleged lopsidedness in the payment of revenue due to telecoms industry.

“We have received several petitions from some professional bodies alleging that some of the telecoms industry are underpaying to the government on what they ought to pay. Am sure that once the bill is passed,some of this issues will be sorted out”

In his response,the Umar Garba Danbatta,said the telecoms sector and the ICT industry have the capacity to be the revenue base of the government with the current dwindling revenue resources from the oil sector.

He said he the commission is engaging telecos strategically to ensure that their corporate social responsibility alleviates the plight of the masses and boost social security.