FG unveils new tax reform laws  in major economic policy shift

ABUJA – The Federal Inland Revenue Service, FIRS, will on Monday, officially unveil the Nigeria Tax Reform Acts at a strategic stakeholder engagement session in Abuja.

The event is expected to mark a major shift in the country’s economic policy as the government moves to simplify the tax system and improve revenue efficiency.

The session, themed ‘Impact of the New Tax Laws,’ is designed to help Nigerians better understand the reforms and what they mean for taxpayers, businesses and the wider economy.

In a statement signed by the FIRS Director of Taxpayer Services, Dr Lovette Ononuga, she explained that the engagement is aimed at strengthening collaboration and ensuring smooth implementation of the new laws.

According to her, the engagement aims to “strengthen public understanding of the reforms and promote collaboration among stakeholders to ensure effective implementation of the new laws.”

She described the unveiling as a milestone in the Federal Government’s ongoing efforts to build a tax system that is simpler, fairer and more transparent.

Ononuga explained that the reforms are intended to encourage voluntary compliance, support investment and contribute to long-term economic growth.

The session will bring together senior government officials, tax and policy aexperts, development partners and key players in the private sector. Discussions will focus on how the new tax laws will work in practice and their likely impact on businesses and citizens.

Key figures expected to speak at the event include the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele; former Executive Chairman of the FIRS and CEO of Compliance Professionals, Ifueko Omoigui-Okauru; the Coordinating Director at FIRS, Matthew Gbonjubola; and the FIRS Chief of Staff, Tayo Koleoso.

There will also be a high-level panel conversation featuring senior management of the FIRS; Amina Ado, Kabir Abba and Matthew Gbonjubola, as well as the Executive Chairman of the FCT-IRS, Michael Ango, and a Partner at Deloitte, Olumide Esan.

Physical attendance is strictly by invitation. To allow wider participation, the FIRS said the session will be streamed live via YouTube and Zoom for those unable to attend in person.

“Virtual participation links will be shared two days before the event on official FIRS communication channels,” the statement read.