Adedeji emphasized that it is important to update old laws such as 1939 Stamp Duty Act which do not accommodate modern society and technology. Furthermore, he mentioned that this bill would include regulation of cryptocurrency industry so as to support balanced approach for economic advancement.
In connection to the 2024 revenue target of N19.4 trillion, Adedeji showed optimism that it would be met; indicating that the first two quarters have given encouraging figures. Meanwhile, Senate Committee on Finance Chairman, Sani Musa commended FIRS for organizing the meeting of stakeholders while stressing on the need for collaboration in maximizing revenue collection and contributing towards national development.
The executive bill is a major leap for Nigeria’s tax system modernization program and the adoption of technological innovations; it portrays FIRS’ commitment towards improving revenue administration in order to foster economic growth.
