By Emman Ovuakporie & Johnbosco Agbakwuru
ABUJA—THE House of Representatives, yesterday, mandated its Committee on Finance and Public Accounts to investigate tax incentives and waivers granted to multinational corporations operating in the country.
According to the House, this is with a view to either reduce them or abolish those that are unproductive.
The committee’s report, expected to be submitted within one month, would help the House put in place a legislation that would ensure that companies benefitting from tax waivers and incentives achieved specific social and economic objectives that led to such waivers.
This was the resolution in a motion entitled Urgent Need to Investigate the Tax Incentives/Waivers Granted to Multi-National Corporations in Nigeria, sponsored by Kehinde Odeneye (Ijebu-Ode/Ijebu North East/Odogbolu Federal Constituency of Ogun State on the platform of All Progressives Congress, APC.
He moved the motion during plenary presided over by the Deputy Speaker, Yusuf Lasun.