Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

Federal Inland Revenue Service (FIRS) to be renamed Nigeria Revenue Service (NRS)

Reporter by Reporter
July 25, 2023
0
Federal Inland Revenue Service (FIRS) to be renamed Nigeria Revenue Service (NRS)
Share on FacebookShare on TwitterShare on Whatsapp

The Federal government has proposed plans to reduce the number of taxes from 52 to 10 and change the Federal Inland Revenue Service (FIRS) to Nigeria Revenue Service (NRS), which will harmonise all tax collection activities of the Federal government.

These plans are intended to ensure ease of doing business, transparency, and efficiency in revenue collection.

This was made known by President Tinubu’s special adviser on revenue Mr. Zacch Adedeji during the virtual TOPAZ 88 lecture series titled “Revenue Challenges and Opportunities in Nigeria Today.”

Speaking during the lecture, Mr. Adedeji said the problem of multiple taxations has reduced trust and compliance among taxpayers in the country. He noted that the aim of this administration is to “let the poor breathe” as they plan to tax ‘prosperity’ and ‘fruits’ not ‘seeds.

Commenting on the FG’s plans, Mr. Adedeji said “This is why, in the coming days when the tax committee is constituted, we will ensure that we streamline our taxes from 52 to 10 because we have realised that it is very difficult to have compliance due to so many taxes

He also faulted government agencies who combine regulatory duties with revenue collection which is not their designated mandate.

In his words, “What we want to do now is to ensure that regulators focus on regulations while agencies in charge of tax collections will collect. “

“For instance, the Nigerian Maritime Administration and Safety Agency (NIMASA) collect 3% freight duty, but it is not their duty.

“Their duty is to secure the waterways. The collection of freights is the sole responsibility of the Nigerian Ports Authority. This is the reason we have leakages because we don’t know how much we have”

The Presidential adviser on revenue also spoke of the FG’s plan to consolidate revenue collection in one government agency- the Nigeria Revenue Service. He explained the reason behind the initiative is to avoid duplication and ensure all taxes due to the government are collected by one agency.

By Uni Chioma

More News...

A Heart Cry of the Nigerian Youth: Who Will Hear Us?

A Heart Cry of the Nigerian Youth: Who Will Hear Us?

The underdevelopment of Ijebu-Jesa, my Native Nazareth (1)

The underdevelopment of Ijebu-Jesa, my Native Nazareth (1)

Governor Umo Eno Defects to APC, Cites State Interest and Need for Federal Alignment.

Governor Umo Eno Defects to APC, Cites State Interest and Need for Federal Alignment.

Trump Threatens Elon Musk’s Government Contracts Amid Intensifying Feud

Trump Threatens Elon Musk’s Government Contracts Amid Intensifying Feud

FROM MARGINS TO MOMENTUM: THE LAGOS YOUTHS STORY

FROM MARGINS TO MOMENTUM: THE LAGOS YOUTHS STORY

FG Declares June 6th and 9th, 2025, as Public Holidays For Eid-ul-Adha Celebration

FG Declares June 6th and 9th, 2025, as Public Holidays For Eid-ul-Adha Celebration

This Tinubu You Hate Today You Will Learn To Love Without Duress Tomorrow 

This Tinubu You Hate Today You Will Learn To Love Without Duress Tomorrow 

Lagos Commissioner Engages Informal Youths on the Streets, Unlocks Access to Health and Social Reintegration

Lagos Commissioner Engages Informal Youths on the Streets, Unlocks Access to Health and Social Reintegration

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters