The Federal Inland Revenue Service (FIRS) has reaffirmed its commitment to fostering strategic collaborations with security agencies to enhance tax collection and enforcement.
This was disclosed during a security briefing and parley involving top FIRS officials and law enforcement agencies.
Gregory Wilfred Asuquo, Director of Security, Safety, and Fleet Management at FIRS, highlighted the critical role of security agencies in achieving the organisation’s ambitious tax targets.
Asuquo identified intelligence sharing and continuous engagement as core strategies for enhancing tax compliance.
Garba Muazu, Acting Director of the Tax Investigation and Enforcement Department, emphasised the legal framework underpinning FIRS’ collaborative efforts.
Muazu further revealed FIRS’ ambitious revenue target for 2025, pegged at a record ₦47 trillion, a significant increase from the current year’s ₦19.4 trillion target.
The security conversation also underscored the importance of reducing tax evasion through advanced technological solutions. “We’re evolving towards self-assessment, where taxpayers understand their obligations. This approach, combined with our data collation efforts, will significantly curb evasion,” Asuquo noted.
As the Nigerian economy grapples with rising fiscal demands, the collaboration between FIRS and security agencies is expected to play a pivotal role in meeting the country’s revenue goals.
The continued focus on intelligence sharing and stakeholder engagement signals a proactive approach to addressing tax challenges and funding national development.
TimesNow.com.ng earlier reported that according to the FIRS wealthy Nigerians and corporations understate their holdings, depriving the federal and state governments of tax revenues.
This information was revealed by Johannes Wojuola, the Special Assistant for Media and Communication to the Executive Chairman of FIRS, during a courtesy visit by the FIRS team to The Guardian’s corporate headquarters in Lagos.
Recall that TimesNow.com.ng earlier reported that FIRS collected a total tax revenue of N5.5 trillion for a six-month period from January to June 2023.
Source: TimesNow.com.ng
