Block All Revenue Leakages, Buhari Orders FIRS, Other Govt Agencies

Posted by admin Latest Politics Thursday, January 21st, 2021

By Deji Elumoye

President Muhammadu Buhari is concerned about the nation’s huge revenue loss due to leakages arising from activities of the revenue generating agencies of government and has now mandated the Federal Inland Revenue Service (FIRS) and other revenue generating agencies to forthwith block such leakages.

He also directed strict payment of taxes by both local and foreign companies, stressing that no firm should be exempted from tax payment.
The president, who spoke virtually Thursday at the First National Tax Dialogue held at the Conference Hall of the State House, Abuja directed FIRS and related government agencies to plug all revenue leakages by ensuring strict compliance with tax payments by foreign companies operating in Nigeria, and deployment of more digital platforms and seamless connections.

Buhari, in a release by his Media Adviser, Femi Adesina, further ordered all government agencies to automate operations and ensure more synergy in advancing the interest of the nation in revenue generation, saying: “It is not enough that our citizens and local businesses pay their fair share of taxes.

“Equally, foreign businesses must also not be allowed to continue to exploit our markets and economy without paying appropriate taxes. Accordingly, the FIRS has my mandate to speedily put all measures in place to fully implement programmes to stamp out Base Erosion and Profit Shifting in all their ramifications and generally automate its tax processes.

“In line with this, I have directed all government agencies and business enterprises to grant FIRS access to their systems for seamless connection. FIRS must ensure that its deployment of technology for automation is done in line with international best practices. In particular, FIRS can borrow a leaf from other countries which have successfully automated their tax processes.’’

-ThisDaywp_posts