…As FEC Okays N40.4bn for Roads, By Johnbosco Agbakwuru – Abuja The Federal Government on Wednesday approved the automated platform for the issuance of Import Duty Exemption Certificate (IDEC) as well as vehicle identification and registration number. The platform is for government to effectively track and manages all revenue accruable from import duties and other charges. The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the weekly Federal Executive Council, FEC, meeting presided over by Vice-President Yemi Osinbajo, at the Council Chamber, Presidential Villa, Abuja. The Minister said that the automated process would enhance efficiency, block leakages and reduce the amount of time it takes to review exemption request and provide the necessary approvals. The Federal Government had announced early in the year that it lost N4.6 trillion from waivers granted to importers in 2017 and 2018. ALSO READ: Expert urges new FIRS boss to improve IT for tax expansion The loss came as a result of the ministry not implementing the IDEC project. Mrs. Ahmed said: “Today (yesterday) the ministry of finance sought the approval on a project which is designed to manage an automated gate way platform… Read full this story
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