FIRS to start taxing informal sector, track 40 million market traders’ revenues

The Federal Inland Revenue Service (FIRS) will start collecting taxes from market traders or the informal sector on behalf of the Federal Government.

In a statement released on Monday, FIRS said it has created an initiative called VAT Direct in collaboration with the Market Traders Association of Nigeria (MATAN).

The initiative is expected to ease tax collection from the market traders and also curb multiple taxations experienced in the informal sector.

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