Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service, has actively criticized the current stamp duty and capital gain tax collection system for its inefficiency.
Nami disclosed this at the 2021 tax week opening event of the Chartered Institute of Taxation of Nigeria, in Abuja on Thursday.
Insecurity, a high currency rate, and the impact of COVID-19 have all hampered the government’s efforts to increase revenue, according to the FIRS boss.
On his part, the Accountant General of the Federation, Ahmed Idris, who was represented by Salawu Zubair, stated that there was a need for the country to spend more on critical infrastructure.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate