Chuks Okocha in Abuja
Governors of the 36 states of the federation have resolved to stop contracting collection of taxes to consultants, saying the huge commission being paid out to contractors would help swell the statesâ internally generated revenue (IGR).
Chairman of Nigeria Governorsâ Forum (NGF), Dr. Kayode Fayemi, who is also the governor of Ekiti State, said yesterday the planned review of the policy on revenue collection by states was part of reforms being considered to boost the financial outlook at the sub-national level.
Many states, notably Lagos, have contracted their revenue-collection duties to consultants despite having internal revenue collection agencies.
BREAKING: Senate passes Finance Bill 2020 | The Nation Nigeria thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.
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The Senate, on Tuesday, passed President Muhammadu Buhari’s Finance Bill 2020 transmitted to the National Assembly two weeks ago for consideration and passage.
President Buhari, in a letter dated November 25, 2020, which accompanied the Finance Bill during transmission, said its passage would support the implementation of the 2021 budget through key reforms to specific taxation, customs, excise, fiscal and other laws.
The passage of the bill was a sequel to the consideration of a report by the Senate Joint Committee on Finance; Customs, Excise & Tariff; Trade and Investment; and Public Procurement.
Presenting his report, Senator representing Lagos West and Chairman of the Joint Committee, Senator Olamilekan Solomon Adeola said the Finance Bill 2020 specifically seeks to amend 17 key areas.
Vanguard News
Senate passes Buhari’s Finance Bill 2020
On
By Henry Umoru
THE Senate Tuesday passed President Muhammadu Buhari’s Finance Bill 2020 that was transmitted to the National Assembly two weeks ago for consideration and subsequent passage.
President Muhammadu Buhari had in a letter dated 25th November, 2020, which accompanied the Finance Bill during transmission, said its passage would support the implementation of the 2021 budget through key reforms to specific taxation, customs, excise, fiscal and other laws.
The passage yesterday was sequel to the consideration of a report by the Senate Joint Committee on Finance; Customs, Excise & Tariff; Trade and Investment; and Public Procurement.
Senate passes Finance Bill 2020 naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.