By Nathaniel Zaccheaus, Abuja
Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has allayed Nigerians’ and investors’ fears that new taxes would not be introduced with the proposed tax reform laws recently sent to the National Assembly.
Adedeji spoke at an interactive session yesterday with members of the Senate Committee on Finance in Abuja about the four bills containing the reforms transmitted to the National Assembly by President Bola Tinubu.
He assured Nigerians that the tax reform laws would not introduce new taxes or increase existing ones.
He said, “Tax reform bills will not introduce any taxes or increase the percentage of existing ones but reduce the taxes paid by Nigerians. No agency will be merged in the process of carrying out the reform, and no job will be taken from anybody.
“The Tax reform seeks to increase simplicity and efficiency of tax administration in Nigeria,” he said.
He further allayed Nigerians’ fears that President Bola Tinubu’s existing tax policies were not meant to tax poverty but prosperity, fruits rather than seeds, returns rather than investments.
He said, “The four bills are the Nigeria Tax Bill, the Nigeria Tax Administration Act (amendment) bill, the Nigeria Revenue Service Bill, and the Joint Revenue Board (establishment) bill. When passed into law, they would, among other things, help harmonize the multiple tax laws in the country.
“They will drive efficiency and modernization, simplify tax laws, and ensure synergy among agencies involved. They will increase efficiency and effectiveness in government savings, promote transparency and integrity in revenue collection, align with international standards, and broaden Nigeria’s tax base, among others.”
*Senators tell revenue agency to create more awareness for new laws
When asked to explain why FIRS, as contained in one of the bills, would be changed to the Nigeria Revenue Service (NRS), Adedeji said the agency’s present name does not adequately describe its services.
For instance, he said that, like the Value Added Tax (VAT), 85 percent of it was being remitted to states while the Federal Government got the remaining 15 percent.
In his remarks, the Chairman of the Committee, Senator Sani Musa (APC Niger East), said the purpose of the interactive session was to be updated by the FIRS boss on what and what the tax reform bills are aiming at.
He said tax reforms lie at the heart of the government’s agenda and require constructive input from all stakeholders.
He commended the FIRS boss for meeting the revenue targets set in the fiscal year but also urged him to go beyond the target.
Many members of the committee, such as Senators Seriake Dickson (PDP Bayelsa West), Osita Isunazo (APC Imo West), and Ahmed Wadada (SDP Nasarawa West), also commended the FIRS boss on the agency’s increased revenue generation, particularly non-oil revenue.
