The Federal Inland Revenue Service and the Lagos State Government have signed a Memorandum of Understanding to create a joint tax audit system.
Lagos State governor, Babajide Sanwo-Olu, said on Monday that the plan will address duplication of taxes and enable the exchange of data between Abuja and Alausa.
“The MoU is in the best interest of the public, as it affirms the reason why we need to come together and strengthen the cordial working relationship between the two agencies,” he said.
“Studies have shown that there would be better service delivery to the citizens and improvement in the efficiency of tax collection when the two agencies work together.
“The cost of tax collection would be reduced, we would see better customer satisfaction and more resources would be generated for the government to deliver more dividends of democracy.”
The governor pointed out that Nigeria’s tax-to-GDP ratio of six to eight percent was poor.
The FIRS chairman, Muhammad Nami, said the MoU would enable Lagos State and the federal government to raise income for projects.
