The Federal Inland Revenue Service (FIRS) has called for the adoption of technology is needed to improve tax collection and block revenue leakages.
Mohammed Nami, executive chairman of the FIRS, made the call while speaking on Monday in Abuja at the opening of the maiden ‘Technology & Tax Event.”
The event was organised by the Nigeria Governors’ Forum (NGF) with the support of the World Bank and the International Centre for Tax and Development (ICTD).
The FIRS boss who was represented by Hamman Abubakar, the service’s coordinating director, stressed the need for federal and state governments to shore up revenue in order to meet the budgetary gaps.
He explained further that taxation all over the world has always been the most reliable and sustainable source of government revenue if well harnessed and effectively administered.
According to him, “For us as a mono-product economy, the reliance on oil revenue in the previous years has exposed our dear country to huge revenue challenges and resulted in poor budget implementation across the three tiers.
“Therefore, proffering solution to these nagging revenue challenges requires a deliberate strategic action plan hence the need and justification for today’s event.
“Taxation, in most advanced jurisdictions, has gone beyond the bricks-and-mortar model but relies more on data and intelligence which are driven by technology.
“The adoption of technology in revenue administration processes is crucial and a major enabler for enhanced and sustainable revenue generation in a globalized and knowledge-driven world.
“Therefore, revenue authorities at all levels must adopt automated processes and embrace e-solutions both in their internal operations and in dealing with the taxpayers within their respective jurisdictions.
“The need to embrace technology in tax administration was the basis for the choice of our theme, ‘Leveraging on technology solution for enhanced administration of indirect taxes’, at the 145th joint tax board (JTB) meeting.
“The JTB meeting harped on the need to further broaden and increase revenue generation at all levels by leveraging on ICT and that the adoption of technology will optimize and harness the various taxes and plug revenue leakages.”