• Latest News

    Wednesday, February 14, 2024

    FIRS Assures Businesses of Friendly Tax Policies

    The Federal Inland Revenue Service (FIRS) has assured businesses of a friendly, customer-centric tax policies.

    Zacch Adedeji, executive chairman of FIRS, made the commitment while receiving the management team of MTN Nigeria in Abuja on Tuesday.

    The team was led by Karl Toriola, MTN’s chief executive officer (CEO), according to NAN.

    Adedeji said the FIRS has resolved to create an environment of growth by removing every obstacle in the way of corporate entities in line with the directive of President Bola Tinubu.

    The FIRS boss had, on July 6, 2023, assured the government would ensure it improves the collection of existing taxes, rather than introduce new ones.

    Reiterating the position at the meeting with the MTN team, he said the ongoing restructuring at the agency, leading to the creation of a one-stop shop for taxpayers according to their turnover thresholds, is part of measures aimed at easing payment of taxes.

    “The way we are structured now is that we have large taxpayers’ groups, medium and small,” Adedeji said.

    “Those in the large tax group are companies with turnover of N5 billion and above and I know that is where MTN belongs.

    “In the large tax category, you will now be required to pay all your taxes, including company income tax, VAT and others in that one-stop shop where you can also have issues relating to audit sorted.

    “Essentially, the issue of multiple letters from various units within FIRS over almost the same matter has been taken off the system with the restructuring that we have done.

    “We are now focused on providing the needed service to our customers.”

    Adedeji further said the relationship between FIRS and the taxpayers is symbiotic.

    “Your existence actually determines our own existence. If you discover anything in our policies or operations that you are not conversant with, feel free to reach out to us for clarification. This is how we can co-exist,” he said.

    On his part, Toriola pledged the support of MTN towards the initiatives of the federal government and FIRS in increasing tax revenue.

    “We have been recognised over the years by a few awards given to us by FIRS on our compliance and diligence in paying our taxes,” he said.

    “Unlike many other organisations, we have a physical presence in every single local government in Nigeria, and we impact the lives of almost everyone living in Nigeria.

    “Over the years, through various administrations, we have taken pride in always being a partner and ally to the Federal Government and we do so by ensuring that we pay our taxes on time. We will never deliberately avoid taxes.

    “We will show every flexibility to support the various initiatives.

    Toriola said the company understands the kind of challenges the nation is facing, and “we are here to be partners in putting the economy on the right track”.

    • Blogger Comments
    • Facebook Comments


    Item Reviewed: FIRS Assures Businesses of Friendly Tax Policies Rating: 5 Reviewed By: BrandIconImage
    Scroll to Top