The Lagos Internal Revenue Service (LIRS) and the Federal Inland Revenue Service (FIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by both agencies to establish a Joint FIRS and LIRS Audit and Investigation Team, aimed at encouraging the exchange of information between both agencies.
In a communique signed by Ayodele Subair, Executive Chairman, LIRS, and Muhammad Nami, Executive Chairman, FIRS on Wednesday, the general public, taxpayers and tax practitioners are charged to provide full support and cooperation to both agencies for the overall economic benefit of all stakeholders.
According to the MoU, the overall objective of the Joint Tax Audit would be to improve tax administration by reducing tax compliance cost thereby enabling ease of doing business in the country.
Speaking on the MoU, Mr Ayodele Subair, Executive Chairman, LIRS, said while the importance of the agreement was to foster greater collaboration between the two agencies, “There is no reason to debate the above as it has been established that tax compliance and good governance are expected to co-exist as the undividable social contract that binds citizens and governments anywhere in the world. Therefore, citizens and governments are expected to fulfil their end of the bargain in achieving a balance.”
