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Our Tax System Must Work For Everyone – Nami

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The 2021 Finance Bill must be tailored towards enabling an efficient tax system that works for every Nigerian. Chairman of the Federal Inland Revenue Service, Muhammad Nami made the remarks yesterday at a stakeholder engagement  on the Finance Bill 2021 at the House of Representatives, Abuja.

“We must build a tax system that is not only robust but that will outlive our respective services to this nation; whether as members of the executive, the judiciary or the legislature. In other words, these laws must be made in a manner that reflects not just what we feel is right, but what is indeed right—yesterday, today, and continues to be right tomorrow,” he said according to a statement that was issued by his media aid.

Nami urged the federal lawmakers to continue to make laws that stand the test of time and reflect economic realities. He called for laws that will not only assist at the thregovernment e levels in mobilising revenue but that will also assist small and medium scale enterprises to grow, and become taxpayers in the future.

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The FIRS chairman also commended the leadership of the National Assembly and members of the executive for the annual review of the Finance Act which he said has afforded the Federal Government the opportunity to deploy new ways of enhancing domestic revenue mobilisation and improving tax administration in the country.

He said the Finance Bills have accorded the federal government and the fiscal policy reform committee the opportunity to annually review and identify gaps in the tax system, fix them and ensure that government can earn the much-needed revenue for the execution of its mandate.

According to Mr Nami, without the commitment of the National Assembly leadership and members of the executive, from day one, to the fiscal reforms that the Finance Bills were aimed to achieve, we would not have been able to attain the resounding successes we have recorded since 2020,” Nami stated.

Describing the annual review as a clear demonstration of political will for the actualisation of good governance, Nami stated that it was the enablement provided by the Finance Act 2020 that gave the FIRS the powers to deploy its own digital tax administration solution, TaxPro Max with its attendant results

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“That single revolutionary amendment to the FIRS Establishment Act gave us the power to deploy our homegrown digital Tax Administration Solution called the TaxPro-Max. This platform allows for seamless electronic registration of taxpayers, electronic filing of returns and payment of taxes.

“Consequently, it is not surprising that the FIRS was able to collect over N5 trillion between January this year to date while we are confident that we will achieve our total VAT target for the year,” Nami stated.

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