Taiwo Hassan 
The Federal Inland Revenue Service (FIRS) has disclosed that the recent changes in the country’s tax landscape are designed to simplify the tax system, broaden the tax base, and ensure a fairer distribution of tax responsibilities in the country.
The Executive Chairman of FIRS, Zacch Adedeji, made this known in his keynote address during the Lagos Chamber of Commerce and Industry (LCCI), Federal Inland Revenue Service (FIRS) and Organised Private Sector Stakeholder Engagement in Lagos yesterday.
Adedeji, who was ably represented by Mrs. Oti Olaniyi, Acting Director, Medium Taxpayers Department, South of FIRS, stated that the country’s tax system, a foundational element of economic policy, was undergoing significant reforms.
The FIRS boss explained that these changes were driven by the need for increased revenue, better compliance, and more equitable economic practices.
The Executive Chairman of FIRS, while speaking on the theme titled: “Emerging Tax Matters,” affirmed that these reforms were essential to meet with emerging tax issues and also commensurate with the fiscal tax reforms being handled by the Presidential Fiscal Policy and Tax Reforms Committee.
Adedeji said: “Historically, our tax revenue has not kept pace with the needs of our expanding population and infrastructure demands. Our heavy reliance on oil revenues has highlighted the need for diversification.
Thus, modernising our tax system to address current economic challenges is crucial. “The recent changes in the tax landscape are designed to simplify the tax system, broaden the tax base, and ensure a fairer distribution of tax responsibilities.
“The emerging tax matters in Nigeria present both challenges and opportunities. By embracing refor m, levera ging technology, and ensuring transparency, we can develop a tax system that supports sustainable growth and equitable development.
“Our collective efforts will pave the way for a more prosperous and resilient Nigeria. As we move forward, we encourage you to support these initiatives with constructive feedback and collaboration. By doing so, we can all build a stronger, more resilient economy that benefits everyone.”
