Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, says the agency has discontinued the road infrastructure tax credit scheme.
According to him, the agency lacks the capacity to verify construction projects executed under the programme.
Adedeji who disclosed this during a media roundtable with ThisDay and Arise News, explained that while the tax credit scheme may appear good, it falls outside the statutory remit of the revenue service, which is limited to assessing, collecting, and accounting for government revenue.
“Appropriation is not part of the remit of Nigeria Revenue Service or Federal Land Revenue Service,” he said, adding that granting tax credits for road construction effectively amounts to an appropriation function, which constitutionally belongs to government bodies empowered to spend and allocate public funds.
According to the chairman, labelling a project as a ‘tax credit’ does not automatically make it the responsibility of a tax authority.
