The Federal Inland Revenue Service (FIRS) chairman, Zacch Adedeji, has reassured Nigerians that the current tax reform will lower taxes rather than raise current ones or impose new ones
Adedeji gave the assurance during an interactive session with members of the Senate Committee on Finance in Abuja on Tuesday.
He highlighted that the main objective is to lower the amount of taxes paid by Nigerians and boost the effectiveness of tax administration in Nigeria, allaying worries about the reforms' effects.
Giving an update on four executive measures that are presently pending in the national assembly, Adedeji stated that if they are approved, they will harmonize various tax laws, improve modernization and efficiency, streamline tax laws, and encourage cooperation amongst revenue-generating organizations.
The bills include the Nigeria tax bill, the Nigeria Tax Administration Act (Amendment) bill, the Nigeria Revenue Service bill, and the Joint Revenue Board (Establishment) bill.
Adedeji asserts that the measures will increase government savings, broaden the tax base, comply with international standards, and foster transparency.
