Acting Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has assured Nigerians and corporate organisations that the FIRS will not further increase taxes despite its resolve to increase the country’s tax-to-GDP ratio to 18 per cent from 10.86 per cent. Adedeji said such resolve would not necessarily lead to an increase in taxes or introduction of new taxes as the President Bola Tinubu-led administration is determined to create a wholesome environment for businesses to flourish. The FIRS chairman had said the agency under his leadership would in the next three years achieve an eight-per cent rise in tax-to-GDP ratio to surpass Africa’s average of 16.5 per cent without stifling investment or economic growth. Addressing representatives of top large tax-paying companies during a get-together, Adedeji said, “Our belief, understanding and vision as a revenue-generating agency is not to introduce any new tax as we only want to use data to improve compliance.” A statement by his Special Adviser on Media and Communication, Dare Adekanmbi, quoted the FIRS chairman as saying that the invited companies and those willing to voluntarily carry out their tax obligations have nothing to be afraid of.
Daily trust