HomeFeaturesFIRS Addresses Tax Reform Worries; Senate Asks For Insights

FIRS Addresses Tax Reform Worries; Senate Asks For Insights

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In a bid to quell rising fears about potential financial burdens, Zacch Adedeji, the Chairman of the Federal Inland Revenue Service (FIRS), clarified on Tuesday that the proposed tax reform laws are not intended to introduce new taxes.

During his appearance before the Senate Committee on Finance, Adedeji assured Nigerians that the proposed tax reform laws would not include the introduction of any new taxes or the increase of existing tax rates, aiming to provide clarity and reassurance amidst public concerns.

At the interactive session meant to update the committee on the FIRS’s tax reform initiatives, Adedeji stated that these reforms are primarily focused on making tax administration simpler and more efficient, while also working to eliminate the confusion caused by the presence of multiple taxes. He assured attendees that there are no intentions to merge any agencies in the process.

However, some lawmakers did not hesitate to share their skepticism regarding the proposed bills, articulating doubts about their potential effectiveness and questioning whether they truly serve the best interests of the public.

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He explained that the reforms will drive efficiency and modernization, simplify tax laws, ensure synergy among agencies involved, increase efficiency and effectiveness in government savings, promote transparency and integrity in revenue collection and broaden Nigeria’s tax base.

The Senate hopes to convene another meeting with the service before a scheduled public hearing on the matter.

The Eastern Updates 

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