MSME gets reward over tax compliance

In a move to encourage and strengthen tax compliance, the Federal Inland Revenue, FIRS, has awarded Raw Food and Beauty Research Limited a cash price of N2 million and a brand new car for for demonstrating exceptional tax compliance.

The Raw Food and Beauty Research Limited is a micro, small, and Medium Enterprises, MSME which showed commitment to tax responsibility.

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The Coordinating Director of FIRS’ Government Business and Medium Taxpayers Group, Dr Dick Irri present the award on behalf of the Chairman of the Federal Imland Revenue, Dr. Zacch Adedeji at a ceremony in Abuja.

According to Dr Irri, the FIRS’s initiative targets micro and small businesses that have taken deliberate steps to register online, enter the national tax net, file Value Added Tax (VAT) and corporate taxes promptly, and ensure timely remittance of payments.

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 “This initiative is designed to support businesses from their early nano or micro stages all the way to becoming medium and large-scale enterprises. Tax compliance is a key part of that journey,” he said.

Now in its seventh edition, the recognition programme reflects the broader effort under Dr Adedeji’s leadership to use positive reinforcement as a tool for driving voluntary tax compliance.

Each year, the programme awards the top-performing MSMEs with a car and cash prizes — sending a clear message that good tax practices bring concrete benefits.

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