The Federal Inland Revenue Service, FIRS has announced the VAT Direct Initiative, a scheme that would enable government to collect Value Added Taxes from the informal sector and reduce multiple taxations in the informal economy.
The FIRS disclosed this in a statement today, stating that it is partnering with the Market Traders Association of Nigeria to collect and remit VAT from their members especially those in the informal sector using a unified systems technology.
Under the initiative, members of the Market Traders Association of Nigeria, will each receive an ID card upon enumeration, which would contain their Tax Identification Number and other personal details.