In a meeting with Guinness Nigeria Plc’s management team, the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, reiterated the agency’s commitment to refrain from introducing additional taxes in the country.
Adedeji emphasized that the focus remains on expanding the tax base rather than increasing tax rates.
Adedeji highlighted President Bola Tinubu’s directive for a single-digit tax regime, indicating that the maximum number of taxes post-reform would be capped at nine.
He emphasized FIRS’s efforts to enhance operational efficiency and customer relations, particularly by categorizing taxpayers based on turnover.
Furthermore, Adedeji mentioned key government initiatives aimed at bolstering economic recovery, such as the upcoming consumer credit scheme and the establishment of a single window platform for logistics at ports.
These measures are anticipated to streamline processes and stimulate growth across sectors.
In response, Guinness Nigeria Plc’s CEO, Adebayo Alli, reaffirmed the company’s commitment to Nigeria despite facing macroeconomic challenges.
Alli expressed confidence in FIRS’s role in supporting economic recovery and sought assurances regarding the tax authority’s collaboration.
Guinness Nigeria Plc reported a loss of N5.23 billion in 2023, primarily attributed to foreign exchange expenses impacting operating profits.
Despite this setback, the company remains dedicated to investing in the country’s economy.
