August 19, (THEWILL) – The House of Representatives Committee on Finance has asked the Federal Inland Revenue Service (FIRS) to submit the receipts of the tax payments made by MTN to the agency for 2007 and between 2010 and 2017.
The request comes as the committee observed during its interaction with the agency on Wednesday that MTN is indebted to the tune of ₦451 billion.
But the FIRS Chairman, Muhammed Nami, told the committee that MTN is already paying the taxes owed to the government in instalments.
Nami further disclosed that the sum of ₦10.104 trillion revenue is expected to be realised in the 2022 fiscal year, with the formal capturing of Facebook, Twitter and other social media platforms into the country’s tax net.
Nami, who spoke during the interactive session on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), also unveiled plans for the introduction of Road Tax.
He said: “On the issue of a digital economy, the FIRS has a department called the International Tax Department which is handling such cases.
“Twitter and others are already registering with us. That is why, in our revenue projections, we are raising it from N5 trillion in 2021 to N10 trillion in 2022. We expect the impact of those registrations to take effect.”
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