WorldStage Newsonline– The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Inland Revenue Service (FIRS) to prioritise effective tax governance to enhance the ease of doing business in Nigeria.
Mr Gabriel Idahosa, President, LCCI who made the call at the FIRS Special Day event at the ongoing 2024 Lagos International Trade Fair (LITF) said that the call was necessary because businesses needed the support and cooperation of key regulatory institutions, like the FIRS, to thrive and be competitive.
He commended Dr Zaccheaus Adedeji, Executive Chairman, FIRS, and his team for the agency’s efforts in institutional reform, tax awareness, and technological advancements for the delivery of quality services.
Idahosa, however, called for further technological integration to streamline tax payments and boost compliance.
Idahosa also stressed the need to address the lingering issues in the tax system, including complication in tax computations and rigorous process in tax payment.
Others, he said, were multiplicity of taxes from multiple revenue collection agencies across the three tiers of government, inadequate knowledge and information about tax regulations, especially on tax issues.
“To build on recent successes, several initiatives are recommended such as targeted outreach, especially within the informal sector to foster a culture of compliance.
“The FIRS must invest in analytics and artificial intelligence to predict revenue patterns and enforce targeted compliance measures, further improving tax collection efficiency.
“The service should train its workforce in global tax practices, fully digitalise its operations and embrace greater cooperation with state tax agencies to create a unified tax system, reduce redundancies and simplify tax compliance,” he said.
Idahosa said that the LCCI would continue to engage with the FIRS on the implementation of reform initiatives on all major tax administration issues.
He noted that this would create a more conducive regulatory environment where businesses could thrive to generate more revenue and further compliance with tax demands.
The Executive Chairman of FIRS, Dr Zaccheaus Adedeji, noted that tax payers were the lifeblood of the service.
Adedeji, represented by Mr Ishola Akingbade, State administrator, Lagos mainland, FIRS, said the service was committed to ensuring a more convenient tax filing procedure for tax payers.
He also called for collaboration between tax payers and the service.
“We would do whatever possible that is within the context of the tax law to ensure that businesses continue to be viable and can pay tax.
“The FIRS, under this leadership, is to encourage self assessment, self filing from a convenient location with the launch of our *829” code initiative.
“We encourage you to reduce needless tax liabilities by filing timely and accurately,” he said.
Also, Director, Tax Payers Services, FIRS, Dr Loveth Onanuga, highlighted the importance of promoting tax awareness and showcasing FIRS services, especially the new customer centric FIRS.
Onanuga said that the service was on a transformative journey and willing to engage with the business community to navigate the complexities of the global economic realities.
