TaxADR, in collaboration with the Federal Inland Revenue Service and other stakeholders, is poised to develop alternative tax dispute resolution mechanisms. Lateef  Yusuff, founder of TaxADR, disclosed this on Tuesday in Abuja.

TaxADR is a group dedicated to developing alternative mechanisms for managing tax dispute resolution.

Mr Yusuff noted that protracted tax disputes were hindering revenue generation and investor confidence in the country.

He said the collaboration with the FIRS presented a strategic opportunity to integrate alternative dispute resolution into the tax administration system.

According to him, the recently launched National ADR Policy and harmonised tax laws present a strategic opportunity for ADR into the tax administration system.

“This is crucial, considering Nigeria’s rapidly evolving economic landscape. With the attorney general’s recent approval of the National ADR Policy, the nation is poised to institutionalise ADR mechanisms across key sectors.

“A structured TaxADR framework can help reduce dispute backlogs and litigation costs, bolster taxpayer trust and compliance, increase revenue efficiency, and align Nigeria with international best practices,” he said.

(NAN)