NIPC, FIRS launch compendium of investment incentives
The Nigeria Investment Promotion Commission (NIPC), and the Federal Inland Revenue Service (FIRS), Monday, launched a Compendium of Investment Incentives, which showcases all relevant Nigerian tax laws put in place to further promote the ease of doing business in the country.
It is also expected to open up the gates for investors in Nigeria.
According to the promoters, the document was published in pursuant to the provisions of Section 4 of the NIPC Act, which requires the Commission to provide and disseminate up-to-date information on all incentives available to investors in the country.
Speaking to journalists after the launch, the Executive Chairman, FIRS, Dr. Tunde Fowler, said the move will boost the inflow of investments into Nigeria.
“The publication and launch of this document will also contribute to the ease of doing business here in our country; you know that information is key to doing business everywhere in the world. Therefore, the launch will further educate investors and those willing to come here on the different types of taxes and other relevant information that would give them hope of repatriating their proceeds in line with acceptable and regulatory laws guarding every business transactions. Remember that to push the economy forward, you need investors, which this Compendium stands for.”
Earlier, the Executive Secretary/CEO, NIPC, Ms. Yewande Sadiku, said the compendium is a compilation of fiscal incentives in Nigeria tax laws, and sector-wide fiscal concessions duly approved by the Federal Government with the support of legal instruments.
Sadiku explained that the first edition is based on the 2016 Fiscal Policy, and covers five sectors, adding that the document is also aimed at raising awareness of investment incentives in Nigeria, the relevant administering agencies, and should serve as a useful guide in making informed decisions.
She promised that the Compendium will be updated periodically, as more incentives are duly gazetted as a clear demonstration of the commitment of government in encouraging investments into the country.
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