Reform bills: No plan to introduce new taxes, increase existing ones – FIRS

By Saawua Terzungwe

Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has clarified that the four bills transmitted to the National Assembly on tax reforms by President Bola Ahmed Tinubu are not aimed at introducing new taxes or increasing the existing ones in the country.

He spoke on Tuesday in Abuja, when he appeared before the Senate Committee on Finance, chaired by Senator Mohammed Sani Musa (APC, Niger East).

Recall that President Tinubu had transmitted four bills to the two chambers of the National Assembly aimed at giving legislative frameworks to some proposals of the Presidential Fiscal Policy and Tax Reforms Committee headed by Taiwo Oyedele.

One of the bills titled, “The Nigeria Revenue Service (Establishment) Bill, 2024, is seeking the National Assembly’s approval to change the name, Federal Inland Revenue Service (FIRS) to Nigeria Revenue Service (NRS).

Fielding questions from members of the committee, the FIRS chairman said, “There won’t be additional taxes. The tax reform bills will not and are not intended to introduce new taxes or increase the existing taxes. It’s just to harmonise them.”

Briefing newsmen after the meeting, Senator Musa said, “The chairman of FIRS has mentioned to us that no any increment in taxes on anyone, not only individuals but companies. That, we agreed.

“I think what they want to do is to strengthen the revenue base of the country and simplify the administration of taxes. There is the need for FIRS to embark on serious sensitisation on these bills. As far as we are concerned, we are representing Nigerians and we will do what Nigerians desire us to do on these bills.”

The Niger Senator also tasked the FIRS to exceed the target given to it, at the end of the year and “also look at the financial activities that are happening digitally so that you can get something from there.”