During a plenary session on Tuesday, the Senate confirmed Zack Adedeji as the Chairman of the Federal Inland Revenue Service (FIRS) by a majority decision following his screening.
Prior to his confirmation, Adedeji vowed to enhance the data mining capabilities of the agency to facilitate well-informed tax decisions. He attributed revenue losses to the lack of data on the financial activities of local and foreign companies operating within the country.
He stated, “We will improve our data mining capacity. We will develop the data upon which will we make decisions on taxes.”
Adedeji also committed to reviewing the Federal Government’s tax credit scheme, which offers certain corporations tax incentives in exchange for infrastructure development.
