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Federal Government has revealed that it plans to recover N553 billion in unremitted taxes owed by international petroleum shipping companies operating in Nigeria.
This was disclosed on Wednesday by the Director, of International Tax, Federal Inland Revenue Service (FIRS), Mr Abdullahi Aliyu during a summit organised by the Nigerian Chamber of Shipping (NCS) themed; “Sensitizing the Nigerian Maritime Industry on the New Tax Policy and Objectives”.
Aliyu added that said the sum was accrued from 2010 to 2019 and would be beneficial towards increasing government revenue.
The FIRS chief noted that with Nigeria’s budget deficit of N11.34 trillion, the N553 billion unremitted taxes represents 5.03 per cent and would be an alternative to addressing Nigeria’s economic woes instead of borrowing.
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He added that shipping companies involved in dry cargo activities in Nigeria and foreign airlines had been complying with the tax laws that most operators in the oil sector had neglected, he said:
