FIRS
FIRS Chairman Tunde Fowler

The Federal Inland Revenue Service (FIRS) wants political parties to publish their tax agenda before and during campaigns for the 2019 elections.

According to the Chairman, FIRS, Babatunde Fowler, the core mandate of the agency is to enforce the payment of taxes by individuals, corporate organisations and government institutions.

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Speaking at the launch of the Andersen Tax in Nigeria in Lagos, Fowler stated that the FIRS as a body was paying taxes, adding that he saw no reason why political parties and other governmental organisations should refuse to pay taxes.

He said the government and all related institutions ought to comply with tax laws in order to set good examples for others to follow.

Fowler stated that the fight against corruption should start with the accountability of the government, adding that taxpayers must be given value for their taxes.

According to him, the Economic Recovery and Growth Plan shows a huge infrastructure deficit, adding that Nigeria would need to invest £30bn to correct the deficit, stating that effective tax payment and collection could reduce the amount required.

Fowler also stated that the major problem associated with developing countries was that people fail to realise the impact of non-payment of taxes.

He disclosed that the FIRS recovered N35.65bn in 2017 following the pasting of over 15,000 non-compliance stickers on identifiable business premises.

The FIRS boss stated that the major thing the country was lacking was infrastructure, adding that taxes would go a long way in generating revenue for the government to execute infrastructural projects.

He said, “A robust tax system is the foundation of sustainable economic growth. According to reports by the World Bank and the International Monetary Fund, there is an association between the level of tax revenue generated and sustainable growth.”