Nami said this has resulted in the transformation of tax policies, with newer laws underway because of the new ways of doing business, adding that the digital economy and tax authorities are going digital by adopting digital tax administration.
The FIRS boss informed that Nigeria has had to increase income through taxation from other sources, other than oil, amidst dwindling oil prices. In terms of challenges, Nami said there is need for speedy revision and implementation of legislation to support the MDAs in achieving its target; having to deal with multiple vendors and systems – no single off-the-shelf solution; technology investment is expensive to procure and maintain, among others.
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