The Federal Inland Revenue Service (FIRS) executive chairman, Zack Adedeji, has disclosed that the government is developing a comprehensive tax reform that will lower the entire amount of taxes collected in the nation to a single digit under the administration of President Bola Tinubu.
Adedeji made this disclosure on Thursday during an appearance on Politics Today on Channels TV.
Naija News reports that he also reiterated that the education tax will serve as the primary funding source for the recently implemented student loan.
According to him, the government was focused on streamlining the country’s tax to a single digit.
He said, “Just a few days ago, Mr President approved the commencement and implementation of student loan, one of the major sources of income or sources of funding for this student loan is education taxes being paid by tax payers, so I do not see where they will say that you see an increase in income and you do not see an increase in services,” he said.
Story continues below advertisement
“We are coming up with a comprehensive tax reform that will reduce the total tax we collect as a nation to a single digit from these multiple taxes to only one digit kind of tax system that will want to focus on.”
