The Federal Inland Revenue Service (FIRS) says it is proposing the introduction of Road Infrastructure Tax in Nigeria, to make the informal sector contribute to building a modern society.
Executive Chairman of FIRS, Muhammad Mamman Nami, disclosed this recently while receiving a delegation of the Nigeria Union of Journalists (NUJ) led by its National President, Chris Isiguzo, in his office, in Abuja.
Nami said the proposed Road Infrastructure Tax to be administered by FIRS, will provide government with adequate funding for road construction, rehabilitation, and maintenance, as well as providing the needed security for roads in the country.
“Without the tax that you pay governments at all levels would not be able to fulfil their mandate to the electorates. Tax money also helps to ensure the roads you travel are safe and always in good condition,” he said.
Nami also stated that despite sharp practices by some companies who were in the habit of evading taxes, by shifting their capital and profits to tax havens, as well as low revenue from Petroleum Profit Tax, due to the shortfall in crude oil production among other factors, the FIRS has been putting forward critical reforms that have been yielding positive impact on the Service’s operations.
“Adopting technology in tax administration is crucial in improving domestic revenue mobilization in view of dwindling oil prices in order to avoid falling into debt crisis. It is against this backdrop that the TaxPro-Max became the channel for filing Naira-denominated tax returns effectively from 7th June, 2021.
Earlier, the NUJ National President, Isiguzo, said the visit of the union was part of his resolve to engage critical institutions as a key stakeholder in charting a way forward for the country’s collective good.