The Chairman, Federal Inland Revenue Service, FIRS, Zack Adedeji, says the recent tax reform bills presented to the National Assembly aim to harmonize existing tax laws, not introduce new taxes.
At a meeting with members of the House of Representatives Committee on Finance in Abuja, Adedeji told the lawmakers that the reforms will improve tax collection efficiency without leading to job losses or merging government agencies.
According to him, the reforms seek to organize the fiscal framework, including regulation of cryptocurrency, and improve transparency and compliance.
“The goal is to create a more efficient tax system. We want to make it easier for taxpayers to comply with the laws.”
He explained that the reforms include the Nigeria Tax Act, which consolidates tax laws, the Nigeria Tax Administration Act, standardizing tax administration, and the Nigeria Revenue Service Act, repealing the FIRS act and that aJoint Revenue Board will also be established to resolve revenue generation and sharing conflicts.
According to Adedeji, the reforms will stimulate the economy, attract investment, and align Nigeria with international standards.
House Committee on Finance Chairman James Abiodun Faleke welcomed the clarification, stating that the meeting is aimed at providing lawmakers with firsthand information to make informed decisions during the second reading of the bills.
Oduyemi Odumade, Edited By Grace Namiji
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