With the aim of enhancing business facilitation, promoting transparency, and streamlining revenue collection, the Federal government has proposed a plan to decrease the existing 52 taxes to just 10. Alongside this, there is a proposal to rebrand the Federal Inland Revenue Service (FIRS) as the Nigeria Revenue Service (NRS), which will oversee and unify all tax collection efforts by the Federal government. These developments were revealed by Mr. Zacch Adedeji, the special adviser on revenue to President Tinubu, during his presentation at the virtual TOPAZ 88 lecture series titled "Revenue Challenges and Opportunities in Nigeria Today."
During the lecture, Mr. Adedeji expressed concern about the problem of multiple taxations, highlighting its negative impact on trust and compliance among taxpayers in the country. He emphasized that the current administration aims to alleviate the burden on the poor by targeting taxes on 'prosperity' and 'fruits' rather than 'seeds.'
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During the lecture, Mr. Adedeji expressed concern about the problem of multiple taxations, highlighting its negative impact on trust and compliance among taxpayers in the country. He emphasized that the current administration aims to alleviate the burden on the poor by targeting taxes on 'prosperity' and 'fruits' rather than 'seeds.'
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FG Proposes Tax Reduction from 52 to 10 and Renames FIRS to Nigeria Revenue Service
With the aim of enhancing business facilitation, promoting transparency, and streamlining revenue collection, the Federal government has proposed a plan to decrease the existing 52 taxes to just 10. A...
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