FIRS partners Niger Tax Authority to improve revenue mobilization

The Federal Inland Revenue Service (FIRS) is collaborating with the Tax Authority of the Niger Republic in a bid to improve revenue mobilization of the two countries.

Speaking in Abuja while receiving the Director-General of Niger Tax Authority, Mallam Ousmane Mahamane, the Executive Chairman of FIRS, Muhammad Nami said the revenue mobilization of Nigeria and the Niger Republic can be improved if the revenue authorities of both countries work together to deepen their relationship, share tax information and engage in mutual administrative assistance.

He noted that it was important for the FIRS to work with the Niger Tax Authority given the “presence of high-net-worth Nigerian individuals and companies trading in Niger with significant tax implications, which is of great interest to the FIRS.”

According to a statement by Johannes Wojuola, the FIRS Executive Chairman also highlighted the working relationship enjoyed by the Service and the Niger Tax Authority in the past, particularly on the community rule on double taxation and transfer pricing.

He stated that there was the need for further cooperation in the areas of sharing of tax information and mutual administrative assistance, especially in the face of an increase in trans-border tax within the context of ECOWAS and AFCFTA.

Muhammad Nami used the occasion to share with his Niger Republic counterpart some of the success stories achieved by the FIRS and the contributors responsible for these milestones.

“We have focused on non-oil tax collection and indirect taxes, particularly VAT as well as on the deployment of technology for the automation of FIRS’ processes and procedures for effective tax administration and greater revenue yield, including e-stamping, e-registration, e-filing, e-payment, e-receipt, e-Tax Clearance Certificates, automation of Stamp Duty and VAT, the deployment of VATrac—an automated VAT filing and collection system in the wholesale and retail sectors—and the deployment of a home-grown, integrated tax administration system, the TaxPro Max.

“One of the contributing factors to our improved revenue is the taxation of the digital economy through the implementation of relevant policies, legislation and administrative processes for the collection of taxes (both income taxes and VAT) from the digital economy. This ensures that Nigeria is able to collect taxes on non-resident companies that derive income from the Nigerian market, without physical presence. This further ensures tax equity for local businesses.” He stated.

The Executive Chairman FIRS explained that “the Service has evolved into a data-centric organization, leveraging on data in revenue forecasting, planning, tax policy formulation and driving compliance and enforcement.”

He stated further that one of the contributors to the FIRS successes was the exchange of information it had with other tax authorities, both internally and in other countries as well as the FIRS being a customer-focused institution that has put measures in place to make voluntary compliance easier than ever for taxpayers.

On his part, the Director-General of Niger Tax Authority, Mallam Ousmane Mahamane said there was an urgent need for international tax cooperation between the two institutions.

He noted that his Tax Authority was seeking a relationship with the FIRS that would cover cross border trade, the oil sector, the telecommunications sector the digitalization of tax procedures, exchange of tax information, assistance with a tax audit, separation of administrative procedures, modernization of tax administration and human capacity development.

Ousmane commended the FIRS Executive Chairman, Muhammad Nami for his “outstanding performance” in mobilizing over N6.405 trillion in revenue for the Government of Nigeria.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

We Have Not Had Water Supply In Months ― Abeokuta Residents

In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state…FIRS partners Niger Tax  FIRS partners Niger Tax

Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train

The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…FIRS partners Niger Tax  FIRS partners Niger Tax