FIRS Rewards MSME Operator with N2m, Car for Tax Compliance
The Federal Inland Revenue Service (FIRS) has rewarded an MSME operator of Raw Food and Beauty Research Ltd. with N2 million and a brand-new car for outstanding tax compliance.
The Executive Chairman of the FIRS, Dr Zacch Adedeji, represented by the Director, Government and Medium TaxPayers Group (GMTG), Mr Dick Irri, gave the award at the 7th National Micro, Small and Medium Enterprises (MSMEs) award in Abuja.
Adedeji said that the reward was for the company’s diligent work. He highlighted the commitment of FIRS in recognising micro and small taxpayers. He said that the micro and small taxpayers did not only register their businesses with the tax authority but have consistently met their tax obligations.
“The gesture is part of efforts to encourage the service’s gospel of voluntary tax compliance, promoting and encouraging tax responsibility among Nigeria’s small business community.
“The programme has consistently awarded top-performing MSMEs with a car and cash prizes, reinforcing the service’s message on voluntary compliance which comes with tangible rewards,” he said.
Adedeji noted the key criteria for the award which include, timely registration, entry into national tax net, regular filing of value-added tax (VAT) and corporate taxes, prompt remittances and payments at when due.
According to him, this initiative is designed to support businesses from their early nano or micro stages all the way to becoming medium and large-scale taxpayers.
“Tax compliance is a key part of that journey. We are proud to see this tradition continue. It is not just about revenue; it is about encouraging business growth through formalisation and financial discipline,” he said.
The chairman said that the FIRS Taxpayers Service Department was actively engaging with small business operators by providing education, advisory support, and record-keeping guidance. He said that businesses that fell below the tax threshold or operate in exempted sectors would not be unfairly burdened.
“We want them to grow, and part of that growth includes becoming part of the formal system where they can access more opportunities.” The FIRS Chairman reiterated the service commitment to ensuring that Nigeria’s small business ecosystem received the necessary support to thrive while fulfilling civic responsibilities. Equities Investors Lost N516bn over Sustained Market Correction
“In line with the Federal Government’s broader economic strategy, the award ceremony also spotlighted efforts to integrate informal sector businesses into the formal economy.”
He said that the National MSME awards was an annual event tailored to honour outstanding indigenous MSMEs.
