The Federal Inland Revenue Service (FIRS) has disclosed plans to increase the nation’s taxpayer base from 20 million to 45 million before the end of the third quarter of 2019 with the aid of technology.
This is to increase government’s revenue in order to further develop infrastructure across the country, the tax revenue agency said.
Executive Chairman of Federal Inland Revenue Service(FIRS) /Chairman Joint Tax Board (JTB) Mr. Babatunde Fowler said this yesterday at Joint Tax Board’s south-west regional flag-off ceremony of the new national taxpayers identification number (TIN) registration system and consolidated national taxpayers database in Lagos.
OVER 5,000 NIGERIAN MEN HAVE OVERCOME POOR BEDROOM PERFORMANCE SYNDROME DUE TO THIS BRILLIANT DISCOVERY
He said the New National TIN Registration System recently launched in Abuja on the 1st of July has the potential to not increase taxpayers base but would also ensure adequate funding for the government at all tiers beyond aid, grants, and borrowing.
Fowler said: “We believe that the new System will reinforce the laudable efforts of this administration towards building a robust tax-revenue administration system, promoting a tax friendly environment and ensuring a sustainable and inclusive economy for all Nigerians.”
On his part, the Governor of Lagos State, Mr. Babajide Sanwo-Olu said: “This new Taxpayer Identification Number registration system demonstrates the transformative power of technology as a significant contributor to the ease of doing business reforms, both at the national level and sub national level; and more critically also aligns with our agenda of leveraging technology to drive change across various economic sectors.”