The Federal Inland Income Service has assured that by means of the combination of expertise, improved processes, and capability constructing, it’s properly positioned to fulfill its formidable goal of an 18 per cent tax-to-GDP ratio by 2026.
It additionally reassured Nigerians that its drive to shore up authorities income is not going to translate to growing taxes.
Chairman of Federal Inland Income Service (FIRS), Dr. Zacch Adedeji, gave this assurance on Thursday on the opening of a three-day workshop on enhancing tax compliance and income era organised for Accountants-Common of states, administrators of finance of FCTA and Federal government-owned Owned Enterprises in Abuja.
He mentioned the main target should be on blocking leakages and guaranteeing full compliance with the present tax legal guidelines.
Specializing in the theme of the workshop which was Enhancing Tax Compliance: Empowering Stakeholders for Efficient Tax Remittance and Reporting, Adedeji mentioned as Accountants-Common, they function important brokers of presidency, guaranteeing that taxes are collected and remitted in a well timed and environment friendly method.
In response to him, “We’re all brokers of the identical authorities, united by one imaginative and prescient: to ramp up income for the expansion and improvement of Nigeria and, by extension, for the advantage of its residents.”
The FIRS boss knowledgeable the Accountants-Common that they’re important within the quest to mobilize income for the federal government.
“You’re chargeable for guaranteeing that VAT is charged and remitted, that Stamp Duties are paid on contracts, and that Withholding Tax (WHT) parts in contracts are correctly withheld and remitted,” he mentioned.
He famous that the federal government has additionally made efforts to simplify the tax remittance course of, notably by means of the centralized fee system the place accountants common deal with funds on behalf of presidency companies.
“This has been instrumental in guaranteeing swift remittance of taxes similar to VAT, WHT, and Stamp Duties,” he mentioned.
“We now have additionally decreased the WHT charges to deal with taxing earnings relatively than income, a transfer that goals to ease the burden on companies and residents.
“Whereas this will cut back the quick tax assortment, we imagine that with enhanced compliance and collaboration, we will broaden the tax base and make up the distinction.”
Whereas calling on them to make use of the workshop to reaffirm their dedication to the shared goal of accelerating authorities income, he mentioned, “If there’s something that has been demonstrated by sovereigns or establishments that has made outstanding strides in tax compliance, it’s that they’re very intentional in direction of collaboration and the institution of assist techniques that encourage compliance throughout all tax classes.”
In her goodwill message, the Accountant-Common of the Federation, Mrs. Oluwatosin Madein, counseled the Accountants-Common of states that made it to the workshop, noting that the workshop was well timed as a result of stakeholders should be empowered.
Madein, who was represented by Ademola Makinde, urged the contributors to assist the federal government generate sufficient income to serve the individuals.
