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The Senate has allowable its Committees on Banking, Insurance and Banking Institutions, and Finance to investigate denial tax revenues on both coffer deposits and dividends.



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This was alike as it apprenticed banks and Central Security and Clearing System (CSCS) to assignment with assorted government agencies and stakeholders in ensuring that accumulating and remittance of denial tax to the Federal Government are done application avant-garde automatic tax solutions and advice technology solutions.

These were resolutions accomplished on Tuesday by the high alcove during plenary, and afterwards application of a motion sponsored by Uche Ekwunife (PDP – Anambra Central).



Ekwunife, in her presentation, appear that “Central Security and Clearing System (CSCS) and Banks in Nigeria do not address Denial Tax on Drop and Dividend to Accompaniment Governments as and back due.”

According to the lawmaker, best Accompaniment Government are clumsy to pay salaries and accommodated their banking obligations as a aftereffect of poor and abbreviating revenue.



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She aloft apropos that “billions of Naira are actuality captivated by banks in Nigeria either in anatomy of beneath remittance or non-remittance  of Denial Tax due to government.”

Ekwunife added, “The charge for states to access their Internally Generated Acquirement has become acute accustomed the abbreviating acquirement from the alliance annual which has larboard assorted Accompaniment Governments in Nigeria with the assignment of formulating strategies to advance the acquirement abject of their states.”

The administrator added bidding affair that one of the above sources of acquirement for accompaniment governments is the Denial Tax on coffer deposits and assets which has been difficult for States to track.

She declared that “the accepted convenance is that both the banks and Central Security Clearing System address to accompaniment governments any bulk they admiration as it is difficult for the states to accommodate what amounts should be accustomed to them.”

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Ekwunife, however, opined that the leakages with account to remittance of Denial Tax can be addressed application avant-garde tax solutions and advice technology.

Meanwhile, the Senate additionally on Tuesday apprenticed the Nigeria Police Force, the Federal Alley Assurance Commission and Vehicle Inspection Officers to anon catch bottomward on barter and lorries plying federal highways after the minimum assigned levels of lighting or alley assurance requirements.

The resolution was accomplished aftereffect to the application of a motion sponsored by Senator Teslim Folarin (APC – Oyo Central).

According to the lawmaker, in 2017, there were 779 recorded Alley Traffic Collisions involving trailers and tankers, which resulted in 737 fatalities and 2,622 austere injuries.

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He added, “In 2018, over one thousand lives and an estimated N39 billion were absent anon due to accidents involving trucks and articulate lorries.”

The Chamber, accordingly, allowable its Committee on Federal Character and Inter-Governmental Affairs to investigate the akin of acquiescence to alley assurance legislations amid absorption operators, owners and drivers, as able-bodied as the accomplishing of the recommendations from the 2018 absorption Operators Stakeholders’ summit.

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