Tax bills are not a threat to revenue-collecting agencies—FIRS
Zacch Adedeji, Chairman of the Federal Inland Revenue Service, has dismissed fears that the four tax proposals currently before the National Assembly pose a threat to the existence or operations of any government revenue-generating body.
The FIRS issued a statement on Wednesday that included this.
Adedeji, speaking at the Revenue House in Abuja on Wednesday at a meeting with the directors of the National Agency for Science and Engineering Infrastructure, the National Information Technology Development Agency, and the Tertiary Education Trust Fund, dismissed the worries as unfounded.
He clarified that the proposed renaming of the FIRS to the Nigeria Revenue Service would not result in the takeover of other federal agencies, contrary to popular belief.
Instead, he stated, the measures are intended to streamline the country’s budgetary framework and increase operational efficiency.
According to the statement, he said, “I want to assure you that nothing in the bills will reduce your funding, effectiveness, or efficiency.” The measure contains features that will assist us in laying a firm foundation for your long-term viability.
“The Federal Government is shifting its fiscal outlook to fulfil the funding needs of all departments. The major goal is to improve tax efficiency and reduce compliance requirements.
“When the bills become law, numerous agencies will be able to focus on their particular functions rather than income collecting.
He stated that once passed, the measures would allow agencies to focus on their primary objectives without the distraction of revenue collection tasks.
He also addressed concerns about the perceived loss in agency duties, explaining that the revisions were part of President Bola Tinubu’s administration’s larger goal to harmonise Nigeria’s tax laws.
“We must implement the tax provisions embedded in the laws that set up these agencies, commissions, and boards.” So, when people carry out their constitutional responsibilities as outlined in their acts or laws, you cannot declare that what they are doing is illegal.
To address these issues, President Bola Tinubu advises us to unify the divergent laws found in several books. This is what the Nigerian tax bill entails.
“When you look at the real principle of this reform, it’s to bring us up to date, to actually show the reality of what we do now, and also to stimulate economic activities.”
“For us to be competitive and be able to convince business people around the world that Nigeria should be their preferred investment destination, we have to do it in the best way,” says Adedeji.
According to the statement, the agency heads took advantage of the opportunity to highlight their different mandates and contributions to Nigeria’s development goal.