Taxpal debuts in Lagos to drive tax compliance

In a bid to drive tax compliance rate in the country and ensure that the Federal Government generates more revenue, Taxpal Nigeria– a tax consulting firm has debut into the Nigeria’s taxation industry.

In a chart with journalists during the launch, Jide Banjo, chief operating officer, Taxpal Nigeria said that the solutions Taxpal provides, tax compliance rate in the country would increase.

“Taxpal is that tax hub that serves taxable Nigerians and Nigerian residents with spot on tax information required to help fulfill their end of the social contract – paying their taxes,” Banjo said.

Citing a recent study by PWC on why Nigerians fail to pay their taxes, he stated that 22.5 percent of the respondent interviewed did not comply with tax payments due to unclear tax rules.

He noted that Taxpal is positioned to bridge the gap and increase the compliance rate of Nigeria through the dissemination of vital information to Nigerians.

“Our mission is to make it as clear as possible and disseminate this via the social media platforms and at the palm of your fingers,” he said.

“The government has the responsibility of being transparent and efficient with how the taxes are spent. Tax apathy and evasion can be reduced where there is high level of transparency and visible development,” Banjo added.

Also speaking during the launch, Adeola Erinle, managing partners said that Taxpal is a one stop shop for tax payers.

“We believe that with Taxpal we would be able to provide businesses, individuals with needed information on taxation. If people know how to pay tax, what to pay as tax, this will increase the compliance level of tax payments among Nigerians,” Erinle said.

Similarly, Shade Coker, director at Lagos Inland Revenue Service said that the organisation is ready to collaborate with any organisation helping to increase tax compliance level in the country.

Coker said that with Taxpal, Nigerians will be provided the needed information about taxation.

She highlighted the challenges experienced by regulators in tax collection. “The inability to capture online transactions – ecommerce is a big challenge to us the regulators,” she said.

Josephine Okojie