JTB ADVANCES TAX REFORM WITH DIGITAL DRIVE IN NIGERIA

ABUJA, March 6, 2024 – The 154th meeting of the Joint Tax Board (JTB) at the Transcorp Hilton Hotel concluded with a strong commitment to digital transformation in tax administration. The two-day conference, themed “Optimizing Tax Administration: Leveraging Harmonization of Taxes via Digital Transformation,” brought together key stakeholders to deliberate on enhancing Nigeria’s tax ecosystem.

The JTB resolved to support the fiscal policy and tax reforms President Bola Ahmed Tinubu’s administration initiated, recognizing it as a pivotal move for the country’s socioeconomic advancement. The board agreed to utilize the Presidential Fiscal Policy and Tax Reforms Committee’s framework to foster tax harmonization and digitalization across all levels of government.

A significant development, the Data for Tax Initiative, was highlighted as a milestone for the nation’s tax administration. The initiative is expected to revolutionize data utilization and digital processes, paving the way for increased revenue generation.

To bolster inter-agency cooperation, the JTB will facilitate a partnership between the Nigeria Police Force and the Federal Road Safety Commission to share data effectively. Additionally, the board plans to enhance collaboration with the Federal Inland Revenue Service to leverage data mining, sharing, and analytics. This strategy aims to improve taxpayer visibility and optimize revenue collection nationally and sub-nationally.

The resolutions adopted at the meeting reflect Nigeria’s proactive approach to modernizing its tax system and embracing the digital age for a more robust economy.

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