Mr. Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has faulted Nigeria’s unharmonized tax agencies and tax systems. According to Mr. Nami at Tuesday’s Senate Stakeholder Engagement and Public Hearing on the 2023 Medium-Term Expenditure Framework (MTEF) and Fiscal Paper at the Senate Chambers, Nigeria records significant tax revenue losses because of its fragmented tax systems and tax agencies.
He said, “In Nigeria, we have 774 Local Governments, each of them has a tax authority; each of the 36 States, too, has revenue authorities with their respective mandates; then we have the FIRS and Customs.” Advising on what the country should do to tackle the revenue challenges it faces, Mr. Nami stated, “What I would advise for efficiency and to do things in line with global best practices, is that we should amend our tax laws to harmonize the tax agencies and tax system.”
Download Tax House’s Service Guide.
Would you like to find out more about this? Send us a mail at email@example.com or reach out to us on WhatsApp – 09038203163.