Business

FIRS urges states to prepare for tax reforms

FIRS urges states to prepare for tax reforms

 

The Federal Inland Revenue Service (FIRS) Chairman, Dr. Zacch Adedeji, has urged state governments to brace up for the tax reforms about to be released.

 

Adedeji emphasised the importance of a robust Internal Generated Revenue (IGR) system at 155th Meeting of the Joint Tax Board (JTB) in Suleja, Niger State. He enjoined the state governments on the need to optimise revenue collection “for socioeconomic and human development.”

According to him, “at this critical point in time, it is necessary to strengthen the fabric of our IGR capacity to ensure that the revenue administration processes, especially at the subnational level, become as efficient as possible to optimise the collection of IGR for socioeconomic and human development,” Dr. Adedeji stated.

 

Adedeji acknowledged the ongoing tax reform efforts led by the Presidential Fiscal Policy and Tax Reforms Committee, stressing that “we must begin to look ahead to how these reforms will impact revenue authorities across all government levels”.

Tax Reforms panel proposes 1% ‘Cost of collection’ for Customs, FIRS, NPA, others
He expressed confidence that diligent implementation of innovative approaches could lead to a monthly IGR target of N5 billion for Niger state.

Governor Mohammed Umar Bago of Niger State, represented by Mustapha Ndajiwo, the Commissioner for Budget and National Planning, presented a case study of successful IGR improvement in the state.

Ndajiwo revealed a rise in Niger State’s IGR, with an average monthly collection of N2,621,710,688.94 between January and May 2024, compared to N1,806,280,088.25 in the same period last year. May 2024 alone saw a collection of N3,508,389,805.20, representing a 45 per cent increase.

Ndajiwo attributed this growth to three key strategies: Niger State implemented strategic reforms and innovative approaches to tax collection. The state prioritized transparency, efficiency, and taxpayer education and Niger State actively collaborates with the Joint Tax Board, a forum for tax authorities across all government tiers. This collaboration allows for the exchange of ideas, best practices, and solutions to shared challenges in tax administration and revenue optimisation.

Sahara Weekly

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

Recent Posts

The Sacred C&S Is A Single Entity.

The Sacred C&S Is A Single Entity.   The leadership of the Sacred Cherubim and…

8 hours ago

Bullion Records, Sports, and Industries gains international recognition with UK certification

Bullion Records, Sports, and Industries gains international recognition with UK certification   Bullion Go-Neat Global…

8 hours ago

INVESTMENT IN LIVESTOCK DEVELOPMENT TO TRANSFORM TRAGEDY INTO ECONOMIC OPPORTUNITY, SAYS PRESIDENT TINUBU

  INVESTMENT IN LIVESTOCK DEVELOPMENT TO TRANSFORM TRAGEDY INTO ECONOMIC OPPORTUNITY, SAYS PRESIDENT TINUBU  …

8 hours ago

Eminent Lawyer: Prophet Israel Oladele Ogundipe ‘Genesis’ Applauds Barr. Oluwapelumi Jacob Olajengbesi’s Outstanding Legal Prowess

Eminent Lawyer: Prophet Israel Oladele Ogundipe 'Genesis' Applauds Barr. Oluwapelumi Jacob Olajengbesi's Outstanding Legal Prowess…

10 hours ago

You are a precious gem to me; Prophet Genesis marks Kemi King’s birthday with inspiring tributes and admiration

You are a precious gem to me; Prophet Genesis marks Kemi King’s birthday with inspiring…

10 hours ago

Celebrating Sir Edwin Ogidi-Gbegbaje At 60 By Jimmy Enyeh

Celebrating Sir Edwin Ogidi-Gbegbaje At 60 By Jimmy Enyeh   Majority of Deltans are unanimous…

14 hours ago