The Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) are increasing their existing relationship to ensure economic progress.
Hussaini Magaji, Registrar-General of the CAC, stated this on Thursday in Abuja while visiting the FIRS Executive Chairman, Zacch Adedeji.
Magaji stated that the purpose of the visit was to familiarise and strengthen the existing relationship between CAC and FIRS.
Speaking on CAC’s mandate about its relationship with FIRS, Magaji stated that CAC had developed a platform for integration with FIRS, making the process of business registration more streamlined.
He underlined the importance of improved cooperation and coordination between the two agencies that are critical to the national economy, particularly regarding income generation.
Magaji said it was critical to identify and formalise the vast number of unregistered online enterprises to enhance the country’s revenue.
In response, the FIRS chairman emphasised the importance of strong inter-agency collaboration for FIRS to function better.
According to Adedeji, whereas CAC registered and nurtured enterprises, FIRS waited for them to mature before assessing them.
He added that FIRS relies on CAC for voluntary compliance by obtaining data from the latter.
He stated that both agencies needed to revitalise their current standing technical committee to interact more frequently to cement their long-standing partnership and foster capacity growth.
