Business

FG targeting tax incentive measures to boost economic growth nationwide – Wale Edun

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Federal Government intends to reduce the cost of tax expenditures and ensure that tax incentives have a positive impact on the economy.


Edun said this while discussing the recent approval of incorporating an Incentive Monitoring and Evaluation Platform (IMEP) into the existing Import Duty Exemption Certificate (IDEC) process as captured by a statement released on Monday.


According to the Minister, the IDEC automation, which was introduced as from 1st March, 2020, is a fiscal incentive by the Federal Government under the Ministry of Finance to boost sectors of the economy by exempting critical players from paying import duty and all other statutory customs charges respectively.