The Chairman of the Federal Inland Revenue Service (FIRS), Zack Adedeji, clarified that the recently presented tax reform bills to the National Assembly are not intended to introduce new taxes or increase existing ones.
During a meeting with the House Committee on Finance, he emphasized that the reforms aim to harmonize existing tax laws, improve efficiency in tax collection, and enhance transparency without merging government agencies or causing job losses.
Adedeji stated the bills seek to streamline tax regulations scattered across various laws, thereby reducing the multiplicity of taxes.
The reforms also aim to regulate cryptocurrency, align tax laws with current economic realities, and attract foreign investment by meeting international standards. He assured that the goal is to simplify compliance for taxpayers and improve overall fiscal efficiency.
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