In three years, the Giant Cement Company remits N412.9 billion to the FG as taxes.

In three years, the Giant Cement Company remits N412.9 billion to the FG as taxes.

A subsidiary of Dangote Industries Limited, (DIL), Dangote Cement Plc, has disclosed that the company has remitted about N412.9 billion to Federal Government as tax for three consecutive years. CONTINUE READING>>>>>

Naija News understands that the company, in a statement, revealed that “A total of N97.24bn was paid by Dangote Cement in 2020, N173.93bn in 2021 and N141.69bn in 2022.

“This huge tax payment from only one of the conglomerate’s subsidiaries, re-affirms Aliko Dangote’s position that prompt and accurate tax payment is a duty for everyone who wishes to witness real growth and development. He posited that the government cannot offer social services to the citizens without tax collection.”

The company said during the three years, Dangote Cement paid a total of N412.86 billion in taxes, Dangote Sugar Refinery paid N55.38 billion, and NASCON Allied Industries paid N5.39 billion.

The company said it would be advisable if the government could automate the tax system in the county and also commended the inauguration of the Presidential Committee on Fiscal Policy and Tax Reforms.

He said: “Maybe they should look at automating the tax system, just like what they did in India. If you go to India today, the country collects at least $1 trillion in various taxes.

“On petroleum products alone, India makes $100 billion yearly, because they charge 100 per cent on petroleum products. So, what I am suggesting is that people should pay taxes, and if you pay, you demand services from the government. I think it is a social contract.”…… Continue Your Reading

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