Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service(FIRS) has beckoned for a comprehensive aggregation of revenues generated at the national and sub-national levels in Nigeria.
He said this on Monday at a symposium themed: “Taxation and challenges of external shocks; Lessons and policy options for Nigeria” which was organised by the FIRS in collaboration with Usman Danfodiyo University, Sokoto (UDUS).
According to the News Agency of Nigeria, Mr Nami said the theme of the symposium is very timely and relevant as it puts into consideration policy options for addressing current and future challenges such as Covid-19.
He said one of the recurring issues in Nigeria’s national discourse is the low Tax-to-GDP ratio which is why the national and sub-national revenue sources need to be comprehensively included.
He said the present basis which is used for computing generated revenue, focuses only on the federal tax administration without including revenues generated by states, local governments, agencies, ministries and departments and does not reflect the true Tax-to-GDP ratio.
He said through the ministry of finance, the FIRS must include all government revenues to account for taxes generated to give the correct state of government’s revenue
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