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FG To “Punish” State, Local Govts Over Double Taxation In Mining Sector ― Minister

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Lai-Mohamed

The Federal Executive Council (FEC), on Wednesday, authorised the finance ministry to directly deduct the federal allocation of any state or local councils found imposing illegal taxes on mining operations.

The Minister of Information and Culture, Alhaji Lai Mohammed, made this known when he briefed State House correspondents on the outcome of the Council’s virtual meeting, presided over by President Muhammadu Buhari, in Abuja.

The decision, according to the minister, followed a memo by the Minister of Mines and Steel Development seeking the Council’s approval to address major challenges facing the nation’s mining industry.

He said the challenges as highlighted by the minister include double taxation, insecurity in parts of the country and collusion between some stakeholders, including some traditional rulers.

He said the menace of double taxation was driving a lot of investors out of the country.

Mohammed, therefore, maintained that the Council’s decision on direct deductions from the federal allocation of any state or local council involved in double taxation was to save the mining industry.

He said: “On the issue of double taxation, whereby mining companies are taxed by local and state governments, two decisions were taken.

Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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