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FIRS urges private sector to invest in agriculture

by Business News Report

The Federal Inland Revenue Service (FIRS) has urged the private sector to contribute towards boosting the nation’s economy. Alhaji Kabir Mashi, the Acting Executive Chairman of FIRS, made the call at the ongoing 35th Kaduna International Trade Fair.

He said the nation require more investment in the non oil sector to be able to diversify its revenue base and transform the economy.

Mashi, who was represented by the Director, Micro/Small Tax Department, Mr Rafunji Andrew said the theme of the fair: “Agricultural Transformation for Industrial Development “, was apt as it would stimulate growth and generate massive employment.

He disclosed that the FIRS has developed tax incentives to encourage companies to grow.

“To encourage voluntary compliance with tax laws , FIRS has put in place incentives such as exempting the companies engaged in agricultural sector from paying heavy tax.”

He also said the service had introduced Tax Identification Numbers for taxpayers through its Integrated Tax Administration System.

“The purpose of the policy is to encourage taxpayers to comply with relevant tax laws and at the same time benefit from some tax reliefs.” Mashi said that the fair was a good forum to appeal to people and businesses in Kaduna State to pay their taxes promptly, saying it was part of their civic responsibility. Mr Amodu Waidi, who presented a paper titled “Achieving Voluntary Compliance Through Self -Assessment Tax Regime”,

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