FG to raise tax through enforcement of laws… 

The Federal Government has rolled out plans to drive tax in Nigeria through the enforcement of compliance with relevant tax laws in the country.

The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has also disclosed the FG’s plan to raise the tax to Gross Domestic Product (GDP) ratio to 18 percent by the year 2026.

Director/Coordinator, FIRS, Lagos Island, Mrs. Fadekemi Oyeniyi, who represented Adedeji at the event, said that the FIRS Chairman has reiterated that taxation is the lifeblood of any economy.

Oyeniyi stated that Adedeji also believes that taxation will provide the necessary funding for the government at any level to carry out its duties and carry out policies that will help the country grow and develop.

Adedeji has, meanwhile, always said that the agency is fully committed to empowering Nigeria’s growth and development.

“Our aspiration is audacious and that is to surpass Africa’s average tax-to-GDP ratio of 16.5% and achieve an impressive 18% within three years.

“By doing so, we aim to reduce our nation’s reliance on borrowing and ensure financial sustainability,” he said after assuming office.