The newly appointed chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has said that something must be done swiftly to end the funneling of 96% of government revenue into servicing of debts.
Speaking at his official takeover at the helm of the service in Abuja, he described the situation as a crisis which requires a decisive action to reverse.
“Presently, we confront a pressing revenue crisis, with a staggering 96% of government revenue being funneled into servicing our debts. This stark reality necessitates swift and resolute action on our part. We cannot afford to delay; we must act decisively to reverse this concerning trend,” he stated at the ceremony on Monday.
The former special adviser to the president on Tax matters said he was determined to align the FIRS with President Bola Tinubu’s Fiscal Policy and Tax Reforms Committee in the pursuit of a brighter fiscal future.
He added: “This collaboration will enable us to shape a prosperous fiscal landscape that empowers our nation’s growth and development. As we chart our course ahead, FIRS is committed to placing innovation, technology, and fresh ideas at the forefront of our operations.
”This strategic focus will empower us to enhance efficiency, fortify against revenue leaks, and bolster coordination and accountability within our organization. Our overarching goal is to nurture voluntary tax compliance by establishing a modern, dependable tax system that garners the trust and admiration of all stakeholders.
“Through this, we hope to create an environment where taxpayers willingly fulfill their civic duties. For those who deviate from their tax obligations, rest assured, we will enforce our responsibilities judiciously.”
Adedeji assured that while the service would implement a robust enforcement model that effectively deters tax evaders, it would maintain fairness and transparency in its processes.
He said a fundamental aspect of its mission would be to elucidate to taxpayers why their civic duty matters, adding: “We are committed to simplifying our tax system, making it accessible and comprehensible, thereby facilitating voluntary tax payments and fostering a sense of civic responsibility.
“Quality data will be the cornerstone of our operations, enabling us to measure our progress, make informed decisions, and maintain the highest standards of accountability. We recognize that data-driven strategies are essential to our success.”
The FIRS boss pledged to maintain an open-door policy, actively engaging with stakeholders to collaboratively construct a tax administration that “we can all take pride in.”
He further said: “Together, we will build an institution that serves as a beacon of excellence. Our aspiration is audacious – to surpass Africa’s average tax-to-GDP ratio of 16.5% and achieve an impressive 18% within three years. By doing so, we aim to reduce our nation’s reliance on borrowing and ensure financial sustainability.
“The principles of integrity, confidentiality, professionalism, and fairness are non-negotiable in our service to the nation. Upholding these values will guide our actions and interactions as we work tirelessly to fulfill our mission.”
Adedeji expressed his belief in the statement that “Revenue growth is the lifeblood of a nation’s economy, providing the means to fulfill essential duties to its citizens,” “These words capture the core principle that will guide us as we navigate the challenging terrain ahead, ensuring that our nation thrives and fulfills its obligations to its citizens.”
He praised his predecessor in office, Muhammed Nami, whose leadership according to him, “elevated our standards, paving the way for our future endeavours”
The FIRS chairman said: “Nami’s commitment to excellence has set a remarkable precedent for us all. I wish to convey my profound appreciation to each and every member of the Federal Inland Revenue Service (FIRS) family, spanning from our dedicated Coordinating Directors to our accomplished Senior Managers. Your unwavering dedication to our vital mission of propelling our nation’s economic engine is truly commendable.”
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