By Dipo Olowookere
Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has disclosed that his agency was presently reviewing some tax laws not in the interest of the taxpayers in the country.
The tax chief made this disclosure during a forum on ‘Tax Administration and National Revenue’ in Lagos on Thursday, where he highlighted the usefulness of tax to the development of the nation.
During the programme, Mr Fowler also said the audit of taxpayers across the country would soon commence.
He said the planned audit is expected to increase tax revenue collection, improved service delivery to taxpayers and enhanced voluntary compliance.
Mr Fowler noted that the FIRS will continue to make sure that things hindering a robust tax administration in the country are effectively addressed and called on citizens to support the government by being tax compliant.
“The greatest challenge for any tax administration is achieving and maintaining a high degree of self-assessment and voluntary compliance by taxpayers.
“Studies, however, show that the extent to which an economy is able to grow sustainably and develop depends to a large extent on its ability to generate tax revenue to finance its expenditure and the efficiency of its tax system.
“The questions that arise from these simple statements include how to identify areas of non-compliance; how to measure the level of non-compliance; and how to address non-compliance,” the tax chief said at the event.
He said further that, “Well-designed taxpayer services, education programmes, and creative measures can facilitate self-assessment and compliance.”
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