The President Lagos Chamber of Commerce Asiwaju Dr. Michael Olawale – Cole has urged the Federal Inland revenue service on the need to leverage the use of technology for it operations as this will make tax payment easier, more efficient and would lead to more tax compliance in the long run.
He was speaking at the FIRS Special Day which held on Wednesday as part of activities marking the Lagos Internaational Trade Fair 2022.
‘’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 (firs) to thrive and be competitive.
Speaking on the theme of the fair ‘Connecting Businesses, Creating Value, ‘ The President described the importance of business relationships and networking as one that cannot be over estimated as it goes a long way strengthening ties that enhance wealth creation and trade partnerships.
‘’This theme also underlines the value of interactions between producers, service providers, and end-users. I, therefore, wish to commend the executive chairman of firs, mr. Muhammad nami, and the executive management of firs for their commitment to institutional reforms, tax awareness, and the leverage of technology to reposition firs for the delivery of quality services.
‘’However, we need to address the lingering issues in the tax system which include complication in tax computations, rigorous process in tax payment, multiplicity of taxes from multiple revenue collection agencies across the three tiers of government, and inadequate knowledge and information about tax.’’
He gave the assurance that the Lagos Chanmebrs of Commerce will continue to engage with the firs on the implementation of reform initiatives on all major tax administration issues towards creating a more conducive regulatory environment where businesses can thrive to generate more revenue and comply more with tax demands.
LCCI Commends Directorate of Employment
Meanwhile, the LCCI President commended the Managing Director Of National Directorate Of Employment (NDE), Malam Abubakar Nuhu Fikpo for its recent flag-off ofthe basic business training (b.b.t) for youths across the country. According to him, the programme aimed at training young citizens in waste recycling for wealth will is one that goes a long way to create an environmental sanitation bridge for better human hygiene.
‘’The rate of unemployment in Nigeria at about 40 percent is a threat to security and a driver of poverty level in Nigeria. The NDE has a critical role in the fight against poverty and insecurity.
‘’The Lagos Chamber of Commerce and Industry is proud to be associated with the National Directorate of Employment (NDE) in its push for a stronger and more prosperous economy. I also confirm that this fair is enriched with extensive media content deployed across traditional and social media platforms to give more value to all participants.’’
However, he urged the Directorate to devise innovative job creating strategies to reduce the number of unemployed persons in Nigeria.
‘’Training and capacity building for youth and retired personnel are veritable tools for job creation and entrepreneurship. Once again the national directorate of employment (nde) for its engagement of unemployed persons across the 36 states and the federal capital territory Abuja as part of its quick fix demand driven scheme,” He said.
