Technology key to implementing new tax laws β Adedeji
The Executive Chairman of the Nigerian Revenue Service emphasized the importance of technology in effectively implementing Nigeria's new tax laws during a recent lecture.
The Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji, outlined the critical role of technology in the implementation of Nigeria's new tax laws during an inaugural convocation lecture at the Federal Polytechnic in Oyo State. He emphasized that these laws represent a significant restructuring of the country's fiscal policies, marking the biggest change in 50 years, and that modernizing the tax system is essential for its effective enforcement.
According to Adedeji, several challenges currently facing the taxation system in Nigeria include inadequate infrastructure, lack of necessary skills among personnel, a deficit of trust from taxpayers, and a general resistance to change within the system. He stressed that overcoming these challenges is vital for the successful adoption of new tax regulations, which are designed to bolster national development. The role of technology is seen as a way to alleviate these issues by providing a more efficient and transparent framework for tax collection and compliance.
As Nigeria moves forward with these new fiscal measures, the integration of advanced technological solutions will likely be a focal point to improve the taxation landscape. The talk underscored the need for a collective effort from the government and stakeholders to ensure that the modernization of tax laws leads to enhanced national development and economic growth.