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The minister said,“The aim of the IMEP is to ultimately reduce the cost of tax expenditures and ensure that tax incentives positively impact the economy.” The minister explained that the government sought to refine the process of granting duty exemptions, which has historically been a significant area of fiscal leakage with this measure.
“This system is designed to provide a framework to check-mate and restrict ineligible applicants, enforce strict compliance to fiscal policy measures, and provide a robust impact analysis of tax incentives on the economy,”Edun explained..
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