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NEW TAX LAWS WON’T BE IMPLEMENTED UNTIL JANUARY – FIRS CHAIR
The Federal Government has disclosed that the implementation of the newly signed four tax fiscal reform laws will commence by January 1st, 2026.
Addressing State House correspondents shortly after the President signed the bills into law, Chairman of the Nigeria Revenue Service, Zach Adedeji, said the modalities will be put in place ahead of the implementation.
Adedeji further explained that the six-month period between the enactment of the new fiscal laws is designed to give ample time to those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service, explaining that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
“The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven National Revenue Agency.
“Two hours ago before we were FIRS, now we are Nigeria Revenue Service with expanded scope to focus on tax collection and with match efficiency.”
Chairman Presidential Committee on Tax Reforms, Taiwo Oyedele, said President Bola Tinubu had directed proper implementation of the laws while ensuring collective participation of all stakeholders.
“The journey is just beginning; writing the law, no matter how beautiful, no matter how transformative, no matter how innovative, it means nothing if it is not properly implemented. So, we are mindful of that. We are not going to relax.
“Mr President has given us the charge that now is time to move to implementation, and we are ready. We are prepared. It is not something we can’t do alone, even from the government side. It’s something we have to be collective about.”
Oyedele added that the committee will now include the private sector, public sector, civil society, professional bodies as well as international partners.
“The private sector, public sector, civil society, professional bodies, etc? Tax consultants, everyone, including our international partners, who mean well will work for Nigeria.”
