The International Monetary Fund (IMF) has reaffirmed its commitment to supporting the Federal Inland Revenue Service (FIRS) in its ongoing reforms. The global financial institution commended the agency for making significant progress in its core duties.
According to a statement from the Special Adviser on Media to the FIRS chairman, Dare Adekanmbi, a Senior Economist at the Fiscal Affairs Department of the IMF, Paulo Paz, made the pledge during the opening of the IMF-supported Headquarters Mission at the Revenue House in Abuja. “We want to know how we can best support you with this new challenge,” Paz said, referring to the recently signed tax laws. “Our take on the four tax laws is, first, a recognition of the very good work that FIRS has been providing to the citizens.”
Paz also added that the new tax laws will have a significant impact on Nigeria, saying, “You have at the same time the recognition and new responsibilities with these very powerful laws, which will increase the relevance of the tax administration in Nigeria.” FIRS Chairman, Zacch Adedeji, who was represented by his Chief of Staff, Tayo Koleosho, welcomed the IMF team and expressed appreciation for the organization’s support. Adedeji highlighted the agency’s collaboration with the IMF in portfolio management and compliance programs.
“The IMF has gone on this journey with us, and I think we are in a good place to continue the journey together,” he said. “We are working together in digital transformation, VAT automation, and even the compliance programme and the ability to automate some of those things.” The Coordinating Director, Corporate Services Group, Bolaji Akintola, noted that the IMF has been a critical stakeholder in FIRS’ journey towards tax system reforms. She said the agency, with the support of the IMF, conducted two systemic evaluation exercises using the Tax Administration Diagnostic Assessment Tool (TADAT) between 2018 and 2023.
The results of the 2023 TADAT showed significant improvement over those of 2018, indicating the commitment of the Service towards institutional excellence, Akintola said. “Let me assure you that if another TADAT is conducted today, the result will be better than that of 2023 because a good number of the weak indicators from the 2023 Performance Assessment Report have been addressed and some have been codified in the four tax reform laws recently signed by President Bola Tinubu.”
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