Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), has assured Nigerians that the ongoing tax reform will reduce taxes not introduce new ones or raise existing tax rates.

Adedeji gave the assurance during an interactive session with members of the senate committee on finance in Abuja on Tuesday.

Addressing concerns over the impact of the reforms, he clarified that the primary goal is to reduce the number of taxes paid by Nigerians and increase the efficiency of tax administration in Nigeria.

“The tax reform will not introduce any taxes or increase percentage of existing ones but reduce number of taxes being paid by Nigerians,” Adedeji said.

“The tax reform basically seeks to increase simplicity and efficiency of tax administration in Nigeria.”

He also noted that no agencies would be merged, and no jobs would be lost in the course of implementing the reforms, adding that the existing tax policies are not meant to tax poverty but to focus on prosperity.

“We are taxing fruits, not seeds—returns, not investments,” he said.

Providing an update on four executive bills currently before the national assembly, Adedeji said when passed into law, the bills will harmonise multiple tax laws, enhance efficiency and modernisation, simplify tax regulations, and foster synergy among revenue-generating agencies.

The bills include the Nigeria tax bill, the Nigeria Tax Administration Act (Amendment) bill, the Nigeria Revenue Service bill, and the Joint Revenue Board (Establishment) bill.

The reforms, according to Adedeji, will promote transparency, align with international standards, expand the tax base, and improve government savings.

President Bola Tinubu’s administration plans to introduce a series of reforms designed to boost government revenues and strengthen the economy.

The federal executive council (FEC) approved the economic stabilisation bills seeking amendment of tax policies on September 23.

On Monday, Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, said the personal income tax of Nigerians earning above N1.5 million will be increased gradually to 25 percent under the new economic stabilisation bill.

Also, on June 4, Oyedele said the committee proposed the reduction of the company income tax (CIT) by 5 percent over two years.

‘CURRENT NAME DOES NOT REFLECT SCOPE OF SERVICES’ 

Speaking on the proposed change of the agency’s name to the Nigeria Revenue Service (NRS), the FIRS boss said the current name does not fully reflect the scope of its services.

He also said 85 percent of the value-added tax (VAT) collected is remitted to state governments, while only 15 percent goes to the federal government.

In his remarks, Sani Musa, chairman of the senate committee on finance, reiterated the importance of tax reforms to the government’s agenda and called for contributions from all stakeholders.

“Tax reforms are central to the government’s agenda and require meaningful contributions from all stakeholders,” he said.

Musa commended the FIRS chairman for meeting the revenue targets for the fiscal year and urged him to go beyond the set targets.

The job market in the United Kingdom offers diverse opportunities, presenting numerous short-term work opportunities for international workers through the UK Work Visa.

Last Stop Booking informs that the average monthly salary for jobs in the UK stands at approximately £1,950, translating to around £15.88 per hour or £29,600 annually.

Salaries can vary based on experience and industry, providing room for negotiation and growth within the job market.

This Visa type as stated allows international workers to take advantage of these opportunities, as it in turn serves as a vital platform for social exchange, skill development, and economic gain for participants.

Recent findings in this report reveal the types of jobs available, and practical tips for securing a position.

Understanding the UK Work Visa 

The UK Work Visa allows international workers to secure employment in various sectors. In order to obtain this visa, candidates must have a job offer from an authorized UK employer.

Reports inform that the sponsoring employer must hold a Certificate of Sponsorship (CoS), which is necessary for the visa application process. The CoS is valid for three months, ensuring that applicants can plan their relocation accordingly.

Companies Offering Visa Sponsorship 

Several prominent companies in the UK are actively offering jobs with visa sponsorship. Notable employers include:

• PwC: PricewaterhouseCoopers (PwC) is one of the largest professional services firms in the world, providing audit, tax, and consulting services. With a purpose to build trust in society and solve important problems.

It is a network of firms in 151 countries with over 364,000 people who are committed to delivering quality assurance, advisory and tax services.

According to its official platform, 2024 marks 175 years since Samuel Price set up as a sole trading accountant.  Apply HERE

• GSK UK: GlaxoSmithKline (GSK) is a major global healthcare company based in the UK.  It specializes in pharmaceuticals, vaccines, and consumer health products.

The company aims to improve the quality of life for people around the world by developing medicines and vaccines that address various health issues.  Apply HERE

• KPMG: KPMG is a global professional services firm that provides audit, tax, and advisory services.

The company operates in over 146 countries and employs more than 200,000 people worldwide. Apply HERE

• Amazon: Amazon is one of the largest online retailers in the world. Its primary business is its online marketplace, where customers can buy millions of items, as it features both products sold by Amazon and third-party sellers.

With operations in numerous countries, Amazon has a significant global footprint. It employs over a million people worldwide and continues to expand its services and product offerings. Apply HERE

• Goldman Sachs: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It is headquartered in New York City and operates in over 30 countries around the world.

Goldman Sachs provides a range of financial services, including advising on mergers and acquisitions, trading in stocks and bonds, managing investments for clients, and offering consumer banking products like savings accounts and personal loans through its Marcus brand.

With a global presence and a focus on innovation, the firm helps clients achieve their financial goals. Apply HERE

• Rolls-Royce: Rolls-Royce is a British company known for manufacturing luxury cars and aircraft engines. It has a reputation for quality and craftsmanship.

The brand is famous for its elegant designs and powerful performance in automobiles, as well as innovative technology in aviation, supplying engines to many major airlines. Apply HERE

These companies are seeking qualified candidates to fill various roles, providing a pathway for international workers to integrate into the UK workforce.

Requirements for Applicants 

Reports inform that candidates interested in the UK Work Visa must meet specific requirements:

1. Job Offer: A confirmed job offer from a licensed sponsor is mandatory.

2. Age: Applicants must be at least 18 years old.

3. Financial Support: Evidence of sufficient funds to support oneself during the stay in the UK is required unless the employer covers these costs.

4. Health and Character: Candidates must pass health checks, including a tuberculosis test, and demonstrate a clean criminal record.

Meeting these criteria is crucial for a successful visa application.

The advantage this poses for international workers is that it allows them to work legally in the UK, often with salaries that match their skills and experience. Also, workers typically receive benefits like health insurance, retirement plans, and paid leave, along with opportunities for professional development through workshops and training.

Furthermore, this visa can lead to permanent residency and British citizenship, making it a great choice for those looking to settle in the UK long-term.

While the visa sponsorship process may appear complex, it offers significant rewards for those willing to navigate it. Interested candidates should act swiftly, as opportunities in this dynamic job market continue to grow.

Festus Keyamo, the minister of aviation and aerospace development, has directed foreign airlines to patronise local caterers for on-board meals.

Keyamo gave the directive in a letter — signed by H.T. Ejibunu, director overseeing the office of the permanent secretary — to the Nigerian Civil Aviation Authority (NCAA).

In the letter dated October 15, 2024, the ministry said the directive from Keyamo takes effect from January 1.

“I am directed by the Honourable Minister of Aviation to convey to you his decision to mandate all out-bound flights from Nigeria, especially foreign airlines to patronize local caterers for on-board meals,” the ministry said.

“Consequently, you are hereby directed to convey the decision to all foreign airlines for strict compliance beginning from 1st of January, 2025.”

On May 21, Keyamo asked Qatar Airways to patronise local catering services on its return trips from Nigeria.

Keyamo, who made the proposal at the Future Aviation Forum in Riyadh, Saudi Arabia, said the initiative is consistent with the principles of reciprocity outlined in the bilateral air services agreement (BASA).

The minister also said it would boost Nigeria’s local economy.