🌍 IMF Commends FIRS on Tax Reforms and Compliance Efforts, Pledges Ongoing Support

The IMF has praised Nigeria’s Federal Inland Revenue Service (FIRS) for its major progress in tax reforms and compliance. Learn how this support boosts domestic revenue mobilization and Nigeria’s economic development.

🏛️ IMF Applauds FIRS Progress in Tax Reforms and Administration

The International Monetary Fund (IMF) has acknowledged the impressive strides made by the Federal Inland Revenue Service (FIRS) in tax reforms administration, compliance, and revenue generation. The commendation came during the opening session of an IMF-supported Headquarters Mission held at Revenue House in Abuja.

Speaking at the event, Paulo Paz, a Senior Economist in the IMF’s Fiscal Affairs Department, lauded the FIRS for its “good work in serving Nigerian citizens,” especially under the leadership of Executive Chairman Zacch Adedeji.

• FIRS Unveils New Tax SOP to Improve Transparency and Taxpayer Experience
• https://www.thecheernews.com/firs-unveils-new-tax-sop-to-improve-transparency-experience/

🤝 IMF Pledges Continued Support for Tax System Modernization

Paulo Paz affirmed the IMF’s dedication to strengthening Nigeria’s tax reforms system:

“Our presence here reflects our ongoing support. We’re particularly interested in how the newly signed tax laws will be implemented and how best we can help FIRS overcome future challenges.”

He emphasized the increased relevance of tax reforms administration in Nigeria and reaffirmed the IMF’s partnership in assisting FIRS to meet new responsibilities.

📜 Nigeria’s New Tax Laws Bring New Opportunities—and Challenges

The recent enactment of four new tax laws marks a turning point in Nigeria’s fiscal policy. These laws are designed to modernize and streamline tax administration, making compliance more efficient and tax reforms systems more transparent.

According to IMF officials, these reforms elevate FIRS’s strategic role in national development and call for even greater technical support and policy collaboration.

📈 Zacch Adedeji: FIRS is Ready to Become Nigeria Revenue Service (NRS)

FIRS Chairman Zacch Adedeji, represented by his Chief of Staff Tayo Koleosho, expressed appreciation for the IMF’s partnership.

“IMF has walked this journey with us. Whether it’s digital transformation, VAT automation, or portfolio management, their guidance has been critical.”

He highlighted that the collaboration will continue as FIRS transitions to the Nigeria Revenue Service (NRS) in 2026.

🧠 Strategic Compliance and Portfolio Planning in Focus

Adedeji emphasized the importance of syncing the agency’s corporate plans with effective data and portfolio management strategies. This will help break down large-scale reforms into manageable, actionable tasks—ensuring that compliance efforts are not only scalable but also sustainable.

“Automating our compliance programme is essential,” he noted. “We aim for a future-ready tax system that supports economic growth and citizen trust.”

🛠️ TADAT Assessments Reveal Dramatic Improvement

Mrs. Bolaji Akintola, Coordinating Director of FIRS Corporate Services Group, explained the transformative role IMF has played in Nigeria’s tax reforms journey. She detailed two Tax Administration Diagnostic Assessment Tool (TADAT) evaluations carried out in 2018 and 2023.

• Each assessment led to actionable roadmaps aimed at fixing systemic weaknesses.
• The 2023 results showed major improvements in areas where the 2018 performance lagged.

“If another TADAT assessment were conducted today, we’re confident our performance would surpass the 2023 results,” Akintola stated.

She credited the continuous progress to the recent four tax reforms laws signed by President Bola Tinubu, which have embedded many of the improvements into the legal framework.

✅ Final Thoughts: A New Era for Nigeria’s Tax System

The IMF’s recognition of FIRS’s efforts not only boosts credibility on the global stage but also signals a strong foundation for domestic revenue mobilization and sustainable economic development.

As Nigeria moves towards a digitized, transparent, and efficient tax reforms system, continued collaboration with global institutions like the IMF ensures the country remains on track for fiscal stability and investor confidence.

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