By Mario Deepromoter
The chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has allayed the fears of Nigerians on the possible introduction of new taxes through proposed tax reform laws.
Mr Adedeji, during an interactive session with members of the Senate Committee on Finance in Abuja on Tuesday, assured Nigerians that the tax reform laws would not entail the introduction of new taxes or an increase in the already existing ones.
“Tax reform will not introduce any tax or increase the percentage of the existing ones, but it will reduce the number of taxes being paid by Nigerians.
“No agency will be merged in the process of carrying out the reform, and no job will be taken from anybody.
“The tax reform basically seeks to increase the simplicity and efficiency of tax administration in Nigeria,” he said.
Mr Adedeji said there were four executive bills already forwarded to both chambers of the National Assembly to legalise the reform.
According to him, the bills include the Nigeria Tax Bill, Nigeria Tax Administration Act (amendment) bill, Nigeria Revenue Service bill, and Joint Revenue Board (establishment ) bill.
Mr Adedeji said the four bills, when passed, would, among others, help to harmonise the multiple tax laws in the country.
“They will drive efficiency and modernisation, simplify tax laws and ensure synergy among the agencies involved.
“The bills will also increase efficiency and effectiveness in government savings, promote transparency and integrity in revenue collection, align with international standards and broaden Nigeria’s tax base,” he said.
When asked why FIRS, as contained in one of the bills, would be changed to Nigeria Revenue Service (NRS), Mr Adedeji said the present name of the agency did not cover the scope of its services.
“Like the Value Added Tax (VAT), 85 per cent are remitted to states while the federal government gets the remaining 15 per cent,” he said.
In his remarks, the committee chairman, Sani Musa, said the purpose of the interactive session was for the FIRS to update the committee on what the tax reform bills were aiming at.
He commended the FIRS boss for meeting the revenue targets set in the fiscal year, even as he urged him to go beyond the target.
Source: ibomfocus