FIRS Chief Assures Government Agencies New Tax Bills Won’t Disrupt Funding Or Jobs

Zacch Adedeji, the chairman of the Federal Inland Revenue Service (FIRS), assured government agencies Wednesday that the four tax bills, which were currently being discussed in the National Assembly, won't harm any ongoing operations or impact jobs.

The assurance was given during a meeting in Abuja with the heads of the National Agency for Science and Engineering Infrastructure (NASENI), the National Information Technology Development Agency (NITDA), and the Tertiary Education Trust Fund (TETFUND).

"I want to assure you that there is nothing in the bills that will reduce your funding, effectiveness or efficiency. What we have in the Bills are provisions that will help us in laying a solid foundation for your sustainability," Adedeji said, Punch reported.

"The Federal Government is repositioning its fiscal outlook to be able to meet the funding requirements of all agencies. The main objective is to enhance tax efficiency, ease compliance levels. The bills, when passed into law, will give various agencies the opportunity to focus on their respective functions rather than bothering about revenue collection."

Once the bills get passed in the National Assembly, it will allow agencies to focus on their main tasks without having to worry about collecting taxes.

As far as the reduction of agency roles was concerned, Adedeji said that the reforms were part of President Bola Tinubu's plan to make Nigeria's tax laws more consistent.

He further explained that the laws that created these agencies already include tax rules, which must be followed. He emphasized that when agencies carry out their responsibilities as outlined in their laws, it cannot be considered illegal.

The FIRS chairman also mentioned that President Tinubu believed the solution to the issue was to combine all the tax laws into one unified system, which was the goal of the Nigeria tax bill.

Adedeji pointed out that the main purpose of this reform was to update the system and reflect on the current situation, while also encouraging economic growth in the country. He added that for Nigeria to compete globally and attract businesses, it must adopt the best practices.