(Last Updated On: December 5, 2018)

The Chief Operating Officer, Taxpal Nigeria, Jide Banjo, has said the company is introducing a solution to make it easier for tax payers to pay their taxes and improve tax compliance in the country.

Banjo stated this during the introduction of Taxpal in Lagos on Tuesday.

“At Taxpal, we have come up with a solution to simplify tax system so that individuals, small businesses and other organisations will be able to easily meet their tax obligations,” he said.

He noted that taxpayers were faced with myriads of challenges such as double taxation from different government agencies, and the inability to understand how much they should pay.

According to him, the firm’s solutions will help to address the challenges, which will help taxpayers to be compliant and be able to freely do business with the government.

Banjo noted that in many countries with less population than Nigeria, tax revenue accounted for a significant part of their total revenues.

The Chairman on the occasion, Kunle Ogundipe, said he was fascinated with the benefits in the solution that Taxpal was providing after going through it.

“Taxpal solution has been tested and will be of benefit, not only to the individuals but also to the government,” he added.

He said if people paid taxes, it would provide funds for developmental projects, and they would be in a better position to ask questions from the government.

The Director, Lagos Inland Revenue Service, Shade Coker, said it was committed to working with any organisation that would help to improve the level of tax compliance in the country.

“With Taxpal, you will understand tax better and know how much you should pay because the solution simplifies it for taxpayers,” she said.

She noted that some people, who claimed to be law enforcers, were in the habit of playing on taxpayers’ ignorance to make them pay what they should not pay.

Coker also observed that e-commerce was evolving, and that it was quite challenging for the tax regulators to be able to capture the revenue from the sector.

 

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