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August 02, 2007
Nigerians may pay more taxes - As FIRS plans annual review of taxes
THERE are strong indications that taxes in the country may go up as the Federal Inland Revenue Service (FIRS) disclosed on Wednesday that it wanted a review of taxes to be done annually and that such review should precede the passage of annual appropriation act by the National Assembly.
Bola Badmus, Abuja - 02.08.2007
Executive Chairman, FIRS, Ifueko Omoigui, gave this indication when she paid a courtesy call on the Speaker of the House of Representatives, Mrs. Patricia Olubunmi Etteh, in her office.
According to the FIRS boss, the organisation was proposing that amendments to all the tax laws be passed annually in order to increase the country’s revenue.
She said this was because of the impact of tax on the revenue side of national budget, as a way of raising more money for the country to undertake development projects.
According to the FIRS boss, the organisation was working round the clock to eliminate what she called multiple taxation, shift from direct to indirect taxation and review the process of granting tax waivers and exemptions such as would support national development within a defined time limit.
Omoigui lauded the House of Representatives for passing eight bills that were critical to the reform agenda of the government, saying four of the bills had since been signed into law.
She listed them as the Federal Inland Revenue Service (Establishement) Act 2007, The Companies Income Tax (Amendment) Act 2007 and the National Automotive Council (Amendment) Act 2007.
She called for the continued support of the House “to enable the country realise more money through taxes and achieve tax payment compliance among the citizenry”.
Posted by Publisher at August 2, 2007 08:59 AM
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