TETFund calls for increase in tax net

The Executive Secretary of Tertiary Education Trust Fund (TETFund), Dr Abdullahi Baffa has called for the expansion of the two per cent education tax net to more corporate entities.  Baffa made the call during the joint TETFund and Federal Inland Revenue Services (FIRS) interactive forum held in Port Harcourt, a statement from the agency stated. […]

The Executive Secretary of Tertiary Education Trust Fund (TETFund), Dr Abdullahi Baffa has called for the expansion of the two per cent education tax net to more corporate entities.
 Baffa made the call during the joint TETFund and Federal Inland Revenue Services (FIRS) interactive forum held in Port Harcourt, a statement from the agency stated.
He also called for the enforcement of tax payment compliance on companies, to shore up the revenue generation base of the agency.
The only source of funding for TETFund stipulated by law, according to him was the two per cent education tax charged on assessable profits of companies operating in Nigeria.