FIRS BOSS,NAMI ALERTS TAX ADMINISTRATORS ON DANGER OF MACHINE LEARNING FOR TAX COLLECTION
The Executive Chairman of Federal Inland Revenue Service, Muhammad Nami, has alerted tax administrators in developing countries especially Africa, to the disruptive tendencies embedded in the Fourth Industrial Revolution.
He said these disorderly trends are currently being driven by powerful Information and Communication Technology (ICT)-based inventions like Blockchain, Machine Learning, and Artificial Intelligence.
Speaking on Tuesday in Abuja at the start of a 3-day capacity building seminar for tax administrators from across West Africa, Nami pointed out that the beneficial tendency of these technological innovations is that they help revenue agencies in their assigned national task.
However, he highlighted that the downside is that they also have a great ability to undermine tax collection because they have created new, fluid, hard-to-trace ways of doing business that makes it difficult for revenue agencies to tax their transactions.