The Kano State Internal Revenue Service (KIRS) has intensified efforts to improve tax compliance through stakeholder engagement with key industry players.
KIRS engaged members of the Association of Bureau De Change Operators of Nigeria (ABCON), North-West zone, to sensitise them on new tax laws and compliance requirements.
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The engagement focused on helping operators better understand their tax obligations, accurately identify registered members, and avoid the misclassification of contractors, which often affects proper tax assessment.
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KIRS officials emphasised that tax assessments are based on applicable fractions tailored to reflect the size and nature of each business, noting that accurate classification is essential for fairness and efficiency in revenue collection.
In their response, ABCON members acknowledged the importance of compliance but raised concerns about challenges in the foreign exchange market. They pointed to the disparity between their turnover and actual income, describing their earnings as relatively low despite high transaction volumes.
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Despite these concerns, the association reaffirmed its commitment to complying with tax regulations and ensuring that its members remain law-abiding.
They also highlighted the importance of effective revenue generation in driving development across Kano State, expressing willingness to continue collaborating with KIRS to strengthen the tax system.