The Federal Inland Revenue Service (FIRS) is exploring a collaborative partnership with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to enhance tax administration and promote economic development. FIRS Chairman Zacch Adedeji emphasized the importance of the collaboration during a meeting with NIESV executives led by President Victor Alonge.
Adedeji noted that estate surveyors play a key role in FIRS’ mandate, particularly in asset valuation and tax assessments. He highlighted the need for accurate filing in areas such as Capital Gains Tax and asset valuations to ensure the effectiveness of tax collection. Adedeji suggested formalizing the collaboration through a memorandum of understanding.
Alonge, in his remarks, stressed the potential of NIESV’s expertise to aid the accurate determination of property values, which would improve tax compliance and increase government revenue. He also commended FIRS’ modernization efforts under Adedeji’s leadership, which have transformed the agency into a service provider for taxpayers.
This partnership aims to bolster tax revenue, an essential factor for Nigeria’s economic development, by addressing gaps in tax collection, especially in Capital Gains Tax compliance
