The federal government has promised not to introduce new taxes nor increase existing ones in the country.
The chairman of the Federal Inland Revenue Service, Zacch Adedeji made the disclosure when he hosted the management team of Guinness Nigeria on a courtesy visit to him on Wednesday.
Adedeji said President Bola Tinubu has given a directive that all taxes must not be above a single digit figure aimed at leading the country out of the current economic challenges, according to Leadership.
He said, “By God’s grace, we will not introduce additional taxes nor increase any form of taxes. We are only determined to increase the pie.
“The president gave a directive that he wants a single digit tax in the country, meaning that the maximum number of taxes we will have after the work of the Presidential Committee on Fiscal Policy and Tax Reforms will be nine taxes.”
He also disclosed that in a few days from now, the recently introduced consumer credit scheme will be launched to set the right fundamentals most especially for the kind of products you sell.
Adedeji said in an economy like the size of Nigeria, it will be extremely difficult not to have a consumer credit scheme, adding that people need to eat before they drink. “But when they have credit to buy things, this gives them more money that they can use to come to drink and relax after work.
“For us at FIRS, we have responded to that directive. We want to grow the pie such that even if we are taking the same percentage of the bigger pie, the result will be huge,” he added.