The chairman for the defunct Federal Inland Revenue Service (FIRS), Zacch Adedeji has announced a change of name for the service.
Adedeji made this disclosure shortly after President Bola Tinubu signed into law, four tax reform bills.
The bill, the president said is aimed at unifying the nation’s already fragmented tax structure by removing duplication of taxes.
The new laws will also improve investors’ confidence, and make the tax system fairer and more transparent.
The four bills signed into law include the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill.
Speaking on the president’s assent of the bills into law, Adedeji said the service will now be referred to as the Nigerian Revenue Service.
His words, “We were the Federal Inland Revenue Service two hours ago, today by the special grace of God through the assent of the Tax Reforms Bills by the President, we are now the Nigerian Revenue Service, which has expanded its scope to also focus on non-tax collection and increase efficiency.
“And actually merge as… the implementer of all other major taxes that we have,” Adedeji stated.
