The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has said the inability of tax administrators to understand and track digitised transaction is leading to loss of revenue for governments, IgbereTV reports.
Speaking at a virtual conference of the Commonwealth Association of Tax Administrators (CATA), Nami noted the COVID-19 lockdown has transformed ways businesses are being conducted through digital technologies, consequently, bringing novel challenges for tax administrators.
The Chairman, who was elected as the new president of CATA, promised to work hand-in-hand with member countries to expand the character of tax administration that would work is in tune with innovation and realities.
A statement by his Special Assistant, Media & Communication, Johannes Oluwatobi Wojuola, said Nami will be the 15th president of the group with a three-year tenure.
He also promised to mobilise member countries and other tax bodies to build capacity of tax administrators to tackle the challenges they face.
“I will work with the CATA Secretariat to effectively collaborate with other tax bodies such as ATAF, WATAF, UN, OECD, NTO, among others, in the area of training and sharing of experience of good and innovative practices in tax administration around the globe.”
Nami, who is the former Chairman of the African Tax Administration Forum (ATAF), added that due to the effects of the pandemic, taxation has become the mainstay for economies over the world in providing the required revenue to fund governance.
