On the 21st and 22nd March 2016, the National Economic Council held a strategy retreat at the state house in Abuja. The aim of the retreat was to develop strategic initiatives that would be implemented to diversify the economy and address revenue challenges.
Some of the key resolutions regarding revenue generation include improved collaboration between the Federal Inland Revenue Service ("FIRS") and the State Internal Revenue Services ("SIRS"), possible gradual increase in VAT rate, and tax harmonization.
Read our alert for more insights Download NEC retreat_Tax alert
Also link to the 71 action points as reported in the media NEC Retreat Resolutions
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