The tax credit for the Apapa-Oworonshoki-Ojota expressway is valued at N21.6 billion while that of Lokoja-Obajana-Kabba expressway is valued at N721 million.
The FIRS' executive chairman,
The credit certificates issued to Dangote is a waiver to cover the tax that
The tax credit for the Apapa-Oworonshoki-Ojota expressway is valued at N21.6 billion while that of Lokoja-Obajana-Kabba expressway is valued at N721 million.
This is the second tax credit certificate the Federal Inland Revenue Service (FIRS) will issue to Dangote for the Lokoja-Obajana-Kabba road construction, and that a N9.5 billion tax credit certificate had earlier in 2019 been awarded to
"It will be in the interest of the government that other investors, business entrepreneurs, companies take advantage of this key initiative such that
He said, "We are hoping that this arrangement will be taken to another level, we are also believing that this will spur other business players out there to come and take advantage of it."
The issuance of tax credit certificates followed the signing of Executive Order 07 of 2019 by President
The order encourages companies to develop infrastructure around their operational area as long as it will enhance their delivery and their businesses.
While receiving the tax credit certificates on behalf of
"To do it at the same time within the time that the public requires is often not possible and I think it is this kind of thing that has generated the need for the state to engage private actors to participate in the process," he added.
Copyright Premium Times. Distributed by AllAfrica Global Media (allAfrica.com)., source