FIRS boss allays fears over new tax bills

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zach Adedeji has said the proposed bills before both chambers of the National Assembly on tax reforms is not meant to increase tax, neither would it lead to job losses.

Adedeji made the clarification on Tuesday during his presentation before the Senate Committee on Finance led by Senator Sani Musa.

Checks revealed that President Bola Ahmed Tinubu had recently presented four Executive Bills on tax reforms before the National Assembly.

The Bills include the Nigeria Tax Bill, Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, 2024, which seeks the National Assembly’s approval to change the name, Federal Inland Revenue Service (FIRS) to Nigeria Revenue Service (NRS) and the Joint Revenue Board ( Establishment )Bill.

Addressing the gathering of lawmakers and journalists, the Executive Chairman of FIRS maintained that the Bills when passed into law will promote efficiency and transparency.

Speaking specifically on the Nigeria Tax Bill, Adedeji said it will harmonize all the taxes, to be codified in one book to remove the multiplicity.

“It is also for efficiency and harmonisation. Another rationale is to simplify law and ensure synergy in revenue collection.

“It is also to ensure efficiency in picking government revenue. It is also to promote transparency in revenue collection. We want to align with international standard.

“Mr. President isn’t interested in increasing taxation but he wants to broaden the tax base.”

He further clarified that the Nigeria Revenue Service (Establishment) Bill, 2024, was to merely change the name of the FIRS to a revenue collection agency of the Federal Government.

He said:” It is to correct misrepresentation. It is to harmonize what we do with what we should be called. We are revenue collection agency of the Federation.

“There is also Joint Revenue Board. There’s need to have joint revenue board for both federal and states to promote better interface and efficiency.”

Senator representing Niger East and Chairman of the Committee, Sani Musa, said the purpose of the lawmakers interactive session with the Federal Government revenue generating agency was ” to acquaint ourselves to know what new tax laws are being proposed.”

Senator Osita Izunaso in his submission called for a single document that will incorporate the four bills being proposed as new tax legislations along with the existing Petroleum Industry Act.

ALSO READ THESE TOP STORIES FROM NIGERIAN TRIBUNE 

Bobrisky: Court orders Verydarkman to remove defamatory posts on Falana, Falz