The Federal Inland Revenue Service (FIRS) has revealed plans to further enhance Nigeria’s tax system by introducing tax payment to the informal sector of the economy.
FIRS intends to achieve this by exploring various incentives aimed at drawing players in the informal sector into the tax net.
Executive Chairman of FIRS, Zacch Adedeji, stated this in Lagos, on Wednesday, at the Private Sector Stakeholders’ Engagement jointly organized by the Lagos Chamber of Commerce and Industry (LCCI) and FIRS, with the theme, ‘’Emerging Tax Matters”.
Adedeji who was represented by the Acting Director, Medium Taxpayers Department (South), FIRS, Mrs. Oti Olaniyi, noted that the informal sector, which constitutes a large part of our economy, poses unique challenges, adding that FIRS will soon introduce the FIRS e-Invoice to further ease tax payment.
His words: “As we explore various tax incentives to stimulate local industries, we must emphasize the need for transparency and effectiveness in the implementation of these incentives. Evaluating their impact and ensuring they align with national development goals is critical for maximizing their benefits.
