Business
Taxation remains the country’s lifeline for development, says FIRS
Dr Babatunde Fowler, Chairman Federal Inland Revenue Service, says taxation remains the country’s lifeline for economic development.
Fowler made this known on Tuesday night in Abuja, at the investiture of Hajia Kudirat Abdul-Hamid, as the 3rd National Chairperson of Society of Women in Taxation.
Fowler was represented by an FIRS official, Mr Abiodun Aina.
He noted that aids, grants and loans were not reliable revenue sources to ensure the development of any economy.
The FIRS boss charged SWIT under Abdul-Hamid’s leadership to continue to educate Nigerians on why they should pay tax for economic and national development.
He added that on its part, the FIRS was working to ensure that the burden of taxation was reduced to the barest minimum.
Although Fowler noted that Nigerians were not convinced that their taxes were being judiciously used, he said the Federal Government had been more prudent in utilization of generated revenue from taxation.
According to Fowler, revenue generated from taxation is currently being utilised by the government to improve the country’s infrastructure, electricity as well as create employment.
(NAN)
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