FG to introduce new tax law

The Executive Chairman of the Federal Inland Revenue Service, (FIRS), Zacch Adedeji, has revealed plans to introduce a law that would overhaul the process of revenue administration in Nigeria next month.
Adedeji spoke at the 2024 stakeholders’ engagement with the Senate and House Committees on Finance, organized by the Intergovernmental Relations Department of the FIRS, with the theme “Repositioning The FIRS To Achieve Its Mandate”.
He lamented the fact that Nigeria had no law guiding the digital market in Nigeria, especially in the area of cryptocurrency.
He also explained that the government plans to regulate cryptocurrency in a bid to ensure that it would not be injurious to the economic development of the country.
He added that there would be revenue harmonisation, recording and simplifying the tax law that has been in existence.