The Federal Inland Revenue Service has said the 2021 Finance Bill must be tailored towards enabling an efficient tax system that works for every Nigerian.
Speaking in a statement on Monday, the Executive Chairman of the Federal Inland Revenue Service, Mr. Muhammad Nami said, “Our laws and policies must first and foremost work for the Nigerian people who we have either been elected or appointed to serve.
Nami, who was represented by his Special Assistant (Media & Communication), Johannes Oluwatobi Wojuola, after a stakeholder’s engagement on the Finance Bill 2021, at the House of Representatives, Abuja, said whatever proposals that have been submitted for consideration should be looked at critically.
According to him, “It will help us more if we realise that our collective effort and service is not about us. It is about our country. We must build a tax system that is not only robust but that will outlive our respective services to this nation, whether as members of the executive, the judiciary or the legislature”
“In other words, these laws must be made in a manner that reflects not just what we feel is right, but what is indeed right—yesterday, today, and continues to be right tomorrow”, the foremost tax administrator added,
Nami appealed to the Fiscal Policy Reform Committee and the House Committee on Finance to continue to make laws that would stand the test of time and reflect economic realities in the country.
This is even as he advocated the need for legislations that would not only assist government at the three levels in mobilising revenue but will also assist small and medium scale enterprises to grow, and become taxpayers in the future.
The FIRS boss also commended the leadership of National Assembly and members of the Executive for the annual review of the Finance Act which, he said, had availed the Federal Government the opportunity to deploy new ways of enhancing domestic revenue mobilisation and improving tax administration in the country.
He said; “The Finance Bills have accorded the Federal Government and the Fiscal Policy Reform Committee the opportunity to annually review and identify gaps in our tax system, to fix them and ensure that government can earn the much-needed revenue for the execution of its mandate.
“Without the commitment of the National Assembly leadership and members of the Executive, from day one, to the fiscal reforms that the Finance Bills were aimed to achieve, we would not have been able to attain the resounding successes we have recorded since 2020.” Nami stressed.