FIRS Highlights Benefits of New Tax Reforms to Boost Revenue and Protect Air Travel Sector

The Federal Inland Revenue Service (FIRS) has outlined the key advantages of the Federal Government’s new tax reforms, describing them as a major step toward strengthening Nigeria’s revenue base. According to the agency, the reforms are designed to improve tax compliance and significantly boost government revenue in support of President Bola Ahmed Tinubu’s administration’s economic agenda.

Speaking yesterday, the FIRS explained that the new tax framework is not just about raising funds but also about creating a fairer and more efficient tax system. The agency emphasized that increased compliance will help plug revenue leakages and provide a stronger financial foundation for infrastructure, social welfare, and other government programs.

In addition to the broad economic benefits, the FIRS noted that the tax reforms take into account the unique needs of critical sectors such as aviation. This means policies are being tailored to ensure air travel is not unduly burdened by new levies, safeguarding the industry’s growth and accessibility for ordinary Nigerians.

Mrs. [Assistant Director’s Name], an Assistant Director at the FIRS, stressed that stakeholder engagement and feedback from businesses and industry experts shaped the reforms. She assured Nigerians that the FIRS will continue to work closely with companies and trade associations to ensure smooth implementation and minimal disruption to the economy.

With these measures, the Tinubu administration hopes to not only boost revenue but also foster investor confidence and job creation across multiple sectors. The FIRS believes that by balancing government needs with industry realities, the reforms can stimulate sustainable economic growth and make Nigeria’s tax system more transparent and accountable.

source: the nation