FG Unveils New Tax Reform Laws in Major Economic Policy Shift
ABUJA – The Federal Inland Revenue Service (FIRS) will on Monday officially present the Nigeria Tax Reform Acts during a strategic stakeholder engagement session in Abuja. The event marks a significant step in the government’s economic policy, aiming to simplify the national tax system and enhance revenue collection efficiency.
Themed Impact of the New Tax Laws, the session is designed to help citizens, businesses, and policymakers better understand the scope and implications of the reforms for taxpayers and the broader economy.
Statements from FIRS
FIRS Director of Taxpayer Services, Dr. Lovette Ononuga, highlighted the importance of collaboration and communication in implementing the new laws smoothly.
“The engagement seeks to strengthen public understanding of the reforms and promote collaboration among stakeholders to ensure effective implementation of the new laws.”
Ononuga described the initiative as a milestone in the Federal Government’s agenda to create a simpler, fairer, and more transparent tax framework that supports economic development.
Goals of the Reform
- Encourage voluntary tax compliance
- Foster local and foreign investment
- Contribute to sustainable, long-term economic growth
Author’s Summary
The unveiling of Nigeria’s new tax reform laws marks a turning point toward a more efficient, transparent, and investment-friendly economic environment.