By Gregory Mmaduakolam
Abuja – The Federal Inland Revenue Service (FIRS) has assured that it will improve ease of doing business in the country to reduce the issues that complicate voluntary compliance in Nigeria.
Mr Tunde Fowler, Executive Chairman, FIRS, said this on Wednesday at the 11th International trade fair in Abuja.
He said there was a need to encourage the nation’s local industries to increase production capacity of the nation.
According to him, encouraging the local industries will assist to increase the country’s output and reduce dependence on imports.
Fowler, represented by Alhaji Useni Kunle, National Coordinator, Federal Engagement and Enlightenment Tax Teams (FEETT), said participation of sister countries in West Africa sub-region made the fair a truly international one.
He said FIRS would continue to advocate the simplification, harmonisation, streamlining of processes, levies and taxes paid at the state and local governments among others, to facilitate business development in Nigeria.
Fowler explained that the processes would increase the number of businesses that would register and pay taxes, especially within the informal sector.
He added that this would broaden the tax base and increase available revenue for development purposes of the country.
Fowler called on the business communities to continue to engage with FIRS and provide feedback on how the service would partner with them to ensure an improved tax system and a successful economy.
He said that the present economic recession afforded the nation a good opportunity to diversify its sources of revenue away from oil to taxation.
Fowler explained that taxation was the reliable and sustainable source of revenue for Nigeria.
He said that this required the cooperation and collaboration of all taxpayers, especially organised groups such as the Abuja Chamber of Commerce and Industry.
He called on the chamber to assist the service to propagate the gospel of compliance with tax obligations to its members.
Fowler said, to facilitate this collaboration, FIRS had set up a dedicated department known as FEETT to do it.
He added that the department would give the chamber all information it needed to comply with its obligations.
Earlier, the President of Abuja Chamber of Commerce and Industry, Mr Tony Ejinkeonye, expressed happiness over the large turnout of exhibitors at the event.
He said this year’s trade fair, with the theme “Make it in Nigeria’’, was to ensure the locally manufactured products in the country were encouraged to diversify the nation’s economy.
Ejinkeonye, who was represented by Dr Mujtaba Abubakar, said there was need to encourage made-in-Nigeria products, to move the nation forward.