The Lagos Chamber of Commerce and Industry has called on the Federal Inland Revenue Service to enhance its adoption of technology to improve its operations.
Speaking at the FIRS Special Day during the Lagos International Trade Fair, on the weekend, themed “Connecting Businesses, Creating Value,” LCCI President Gabriel Idahosa emphasized the importance of targeted outreach, particularly within the informal sector, to foster a culture of tax compliance.
He suggested that collaborating with trade associations could effectively educate these segments on their tax obligations.
Idahosa also recommended that FIRS invest in analytics and artificial intelligence to predict revenue trends and enforce targeted compliance measures, ultimately boosting the efficiency of tax collection.
“Training FIRS’s workforce in global tax practices would ensure the agency remains agile in an evolving economic landscape. Fully digitalising FIRS operations, as seen in Rwanda, would improve efficiency, reduce costs, and make tax processes more accessible, and greater cooperation with state tax agencies could create a unified tax system, reducing redundancies and simplifying tax compliance.”
Highlighting the importance of an efficient tax system, LCCI President, stressed “Effective tax governance is an integral component of the ease of doing business concept. As we all know, businesses need the support and cooperation of key regulatory institutions like the Federal Inland Revenue Service to thrive and be competitive.”
Idahosa commended the Executive Chairman of FIRS, Dr Zaccheaus Adedeji, and the executive management of FIRS for their commitment to institutional reforms, enhancing tax awareness, and leveraging technology to reposition FIRS for better service delivery.
He noted that FIRS has successfully transitioned from being merely a tax collector to a service provider.
He urged FIRS to implement more technology in its operations, as this would streamline tax payments, enhance efficiency, and ultimately lead to greater tax compliance over time.
