The global action week for education is this year focusing on the need for multinationals to help Finance Education through Taxation. Annually, about 2.9 billion dollars is lost due to tax waivers to some multinationals this act according to Senate Committee Chairman on Tertiary Education, Binta Garba is dwindling the economy of the country emphasizing that the same amount can pay for children who are currently out of school.
The Committee Chairman says government should put in place relevant mechanisms, for curbing tax evasion by multinationals and large corporations. Any tax incentive granted, should build on a solid cost benefit analysis to ensure the immense social needs in the country are taken into consideration. Corporate entities operating in Nigeria are also been advised to end tax avoidance practices and see their Tax Payment as part of their social corporate responsibility.
