The Federal Inland Revenue Service (FIRS) has reiterated its confidence in taxation, stating that it remains Nigeria’s major lifeline for economic development. This was made known by the Chairman of the agency, Dr Babatunde Fowler, at the investiture of Hajia Kudirat Abdul-Hamid as the 3rd National Chairperson of Society of Women in Taxation in the Nation’s capital, Abuja on Tuesday. Dr Fowler, who was represented by Mr Abiodun Aina at the event, stated that aids, grants and loans were not reliable revenue sources to ensure the development of any economy. He added that the agency on its part was working to ensure that the burden of taxation was reduced to the barest minimum on Nigerians. The nation’s chief tax collector expressed that Nigerians were not convinced of their taxes being utilized for what they were meant for. He, however, disclosed that the Federal Government was more prudent with the utilization of revenue generated from taxation. According to Fowler, revenue generated from taxation is currently being used by the government to improve the country’s infrastructure, electricity as well as to reduce unemployment through the creation of jobs. The FIRS boss charged SWIT under the new leadership of Kudirat Abdul-Hamid to continue to educate Nigerians on why they should pay tax for economic and national development.
Source: business post