• FIRS
• Tax Reforms

FIRS DEBUNKS CLAIMS ON TAX LAWS, NIN SERVES AS TAX ID (VIDEO)

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  CapitalTimesNews / 2 months
• 0
• 1 min read

The Federal Inland Revenue Service (FIRS) has dismissed assertions that Nigeria’s tax laws will plunge the country into difficulties, describing claims of “No Tax ID, No Banking” as false. Technical Assistant Broadcast with FIRS, Arabirin Aderonke, clarified in a video release that the National Identification Number (NIN) serves as the Tax Identification Number (TIN) for individuals. “Stop spreading falsehood,” Aderonke urged, addressing misconceptions surrounding tax reforms. She emphasized that the NIN is used as the tax ID, making a separate TIN unnecessary for banking purposes. According to Aderonke, linking NIN to tax processes enhances financial inclusion and regulatory compliance. The FIRS representative stressed that only taxable persons are required to engage with TIN processes, and having a bank account doesn’t automatically imply tax payment obligations. The clarification aims to address public concerns and misinformation about Nigeria’s tax framework and its implications. Aderonke’s statement underscores the government’s effort to streamline tax administration using existing national identification infrastructure. The FIRS encourages accurate understanding of tax policies, noting reforms are designed to improve compliance and broaden the tax base without unduly burdening citizens.