The Coalition of Northern Groups (CNG) extends its warm congratulations to Mr. Zacch Adedeji on his appointment as the Executive Director of Federal Inland Revenue Service (FIRS) by President Bola Ahmed Tinubu.
This contain in a statement released by the Group spokesperson Abdul-Azeez Sulaiman in Abuja said that the CNG is confident that Adedeji’s leadership will enhance the efficiency and effectiveness of revenue collection in Nigeria.
Sulaiman said, as a vibrant and dynamic leader, the choice of Adedeji will bring a wealth of experience and expertise to the FIRS, a critical institution that is instrumental to the Federal Government’s efforts to mobilize revenue for development.
The coalition expressed its confidence in the President’s choice of Adedeji, saying his contribution to Nigeria’s tax administration and revenue generation cannot be overstated.
CNG emphasize more that, multiple taxation has been identified as a major deterrent to foreign investment in Nigeria. This is because investors are wary of the multiple tax regimes and the high compliance costs associated with them. He suggested the simplification of the tax system, saying the current tax system is complex and confusing.
The CNG also noted that the issue of multiple taxation has been a major challenge faced by businesses and taxpayers in the country.
“It is in this light that we call on the FIRS Executive Director to revisit the issue with a view to reviewing and easing the system to conform with international best practices. The current system of multiple taxation in Nigeria places a heavy burden on businesses, particularly small and medium enterprises (SMEs), CNG said.
CNG explained that there are too many taxes and levies, some of which are duplicative. To ease the system, there is a need to simplify the tax codes and eliminate duplicative taxes to make compliance easier for businesses.
“This is because they are subjected to various forms of taxes, including corporate income tax, value-added tax, education tax, among others, CNG said.
“Adedeji, is an exemplary leader known for his cordial understanding with people from diverse cultural backgrounds, particularly the North, as a result of which he has been able to bridge the communication gap that often exists between the South and Northern Nigeria, CNG said.