FG Revenue Unlikely to Grow Immediately Under New Tax Laws — NRS Official

FG Revenue Unlikely to Grow Immediately Under New Tax Laws — NRS Official

The Nigeria Revenue Service (NRS) says the newly introduced tax laws are not aimed at increasing government revenue in the short term, but at stimulating economic growth and easing the tax burden on citizens and businesses.

Olufemi Olarinde, head of fiscal and tax reforms implementation at the NRS, made the clarification on Wednesday while speaking during an X Space hosted by TheCable, titled “What Exactly Changes For You With The New Tax Law?”
Olarinde stressed that the reforms focus on tax reduction rather than tax hikes, noting that none of the provisions in the new laws introduce higher taxes