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FIRS To Re-assess Tax Waivers

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By James Itodo

The Chairman, Federal Inland Revenue Service ( FIRS), Zaccheus Adedeji, says the agency would re-assess and re-evaluate the importance of tax waivers issued to some organizations.

Adedeji stated this in Abuja before his confirmation during screening a by the Senate at the committee of the whole.

President Bola Tinubu had in September, appointed Adedeji to take charge of the revenue organisation in acting capacity after directing Muhammad Nami to proceed on a three-month pre-retirement leave.

During the screening exercise, Adedeji reeled out his action plan if confirmed.

He said, “On tax credit scheme, when we developed it, there was a goal, we will check our goal when we set up this economic policy; is it still serving that economic policy? that is why change is inevitable.

“There was a purpose when they brought the tax credit scheme, but as of today that purpose needs to be changed.

“The law says all revenue should come into coffers. Only the National Assembly has appropriation right; taxes are federation money.

“We will look into that and re-evaluate whether the reason we set up the tax credit scheme is still useful today or not.

“We will re-assess all the waivers and reevaluate their economic importance whether useful or not. We will review this, with your support.

“Our problem is lack of data. When you ask these people 10 times how much tax they should pay, they will give you 10 different answers.

“One of the visions I have is to develop the data upon which we will make decisions. It is when we have data that we can plan so that we will not ask them how much they will pay because we have the data.

“We will centralize the identification system. NIN becomes the basic identity everyone will have., everything will be linked to it.”

Fielding a question from Ali Ndume, chief whip of the senate, the FIRS chair noted that the National Identification Number could be used for effective and efficient taxation.

He will “We will develop the data to make the decisions.

Edited By Grace Namiji

Written by: Kevin Nwabueze

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