FIRS to Collaborate with Estate Surveyors to Enhance Tax Revenue
By Patience Ikpeme
The Federal Inland Revenue Service (FIRS) is set to deepen its collaboration with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to improve tax administration and boost revenue collection.
In a statement issued by Dare Adekanmbi, the Special Adviser on Media to FIRS Chairman Zacch Adedeji, it was disclosed that FIRS boss endorsed the partnership between FIRS and NIESV during a visit by NIESV executives, headed by President Victor Alonge, to the Revenue House in Abuja.
Adedeji noted the pivotal contribution of NIESV towards assisting FIRS in fulfilling its duties of evaluating, gathering, and managing government revenue.
“The collaboration between FIRS and your association is essential. Your output directly supports our operations, particularly in asset valuation, Capital Gains Tax, and financial assessments,” Adedeji noted.
He highlighted the need for accurate asset valuations to ensure proper tax assessments and compliance, proposing that the partnership be formalized through a memorandum of understanding.
In his response, Alonge expressed the willingness of NIESV members to support FIRS in addressing gaps in tax compliance, particularly in the remittance of Capital Gains Tax. He pointed out that government revenue is often undermined by incorrect asset valuations.
“Accurate valuation of taxable properties and assets is essential for ensuring the proper amount of tax is levied. We are ready to partner with FIRS to enhance compliance and shore up government revenue,” Alonge said.
He also commended the strides made by FIRS under Adedeji’s leadership, particularly the modernization of tax administration, which he described as transformational and key to repositioning the agency as a service-oriented organization.
Both parties agreed that the proposed partnership would improve tax compliance, enhance revenue generation, and significantly contribute to Nigeria’s economic growth.
