FIRS eyes 18% GDP to tax ratio in 3 yrs

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•Sensitizes taxpayers on new innovations             

By Elizabeth Adegbesan

The Federal Inland Revenue Service, FIRS, has said it increased Nigeria’s tax to Gross Domestic Product, GDP, ratio from 6.0 percent to 10.86 percent in 2022, through various reforms.

The Director, Taxpayer Services, FIRS, Abuja, Mrs.    Saidatu Yero, disclosed this yesterday at the sensitization programme of the Lagos Mainland West region of FIRS in Lagos.

She added: “The Management is committed to improve the country’s tax to GDP ratio to 16.5 percent which is the Africa’s average and subsequently 18 percent in the next three years.”

She stated: “Some laudable reforms had been embarked on by the Service which has changed the narrative of the tax administration in Nigeria thereby improving our revenue collection into the coffers of government”.

This is even as the agency noted that its innovations have already culminated in the generation of N8.5…



Source: Vanguard Newspaper