We’re probing multinationals’ tax waivers in national interest – Dogara

The Speaker, House of Representatives, Yakubu Dogara has said that investigation into tax waivers and business incentives granted multi-national corporations was targeted at ensuring that Nigeria is not short-changed.
Speaking at the opening of an investigative hearing organized by the House Joint Committee on Finance and Public Accounts at the National Assembly yesterday, Dogara said the exercise will enhance the prevention of further losses to the country in terms of the tax, employment opportunities and such other benefits derivable from FDI.
“The overall aim of this investigation is to address anomalies that may impede the operations of the Foreign Direct Investment (FDI) policy in the country.
We in the parliament are desirous to see a new vista of competitive, transparent and efficient FDI system”.
“We believe that a well-managed FDI policy will boost technology, skills and expertise transfer, which will in turn spur growth and development.
Japan and South Korea are two well-known countries that have thrived through FDI.
Nigeria cannot be an exception if we get our acts right.
“It is imperative to ensure that in granting incentives/waivers to multinational corporations, the interest of the country is made paramount.
This will go a long way in avoiding shortchanging the nation in terms of the tax, employment opportunities and such other benefits derivable from FDI.” The joint committee led by Hon.
Babangida Ibrahim, has however expressed disappointment at the attitude of invited MDAs who took pride in avoiding the hearing only to send junior officers as representatives.
Frowning at the development, the committee declined audience to the representatives from the Nigerian Customs Service, the Federal Inland Revenue Service and the Finance Ministry, insisting that the heads either show up or send management officials who can answer questions.