MATAN Signs MOU with National Association of Nigerian Traders to Streamline Tax Collection

Ambassador Olakunle Moses Johnson, Chairman of the Integrated Market Revenue Management System on VAT Direct Initiative (IMRMS-VDI) under the Market Trader Association of Nigeria, has inked a Memorandum of Understanding (MOU) with the National Association of Nigerian Traders to explore avenues for harmonizing tax collection.

Addressing attendees at the MOU signing ceremony in Abuja, Ambassador Johnson expressed concern over the significant financial burden borne by traders in the process of transporting their goods to market.

The MOU signifies a collaboration between the National Association of Nigerian Traders and the Market Traders Association of Nigeria (MATAN) aimed at addressing multiple taxation and alleviating challenges encountered by traders in the market. It seeks to streamline tax collection processes across local, state, and federal levels, thereby easing administrative burdens on traders and government alike.

Ambassador Johnson outlined MATAN's initiative to conduct a nationwide enumeration of traders and issue multipurpose identity cards, facilitating direct access for government authorities regardless of traders' individual statuses.

"We aim to establish an accurate count of traders in Nigeria. The analog distribution of Trader Money has proven ineffective, hindering equitable access for all traders, particularly at the grassroots level," remarked Johnson.

He emphasized that the collaboration with the National Association of Nigerian Traders will bolster tax collection efforts, aligning with the priorities of President Bola Tinubu's administration. Johnson also highlighted MATAN's partnership with the Federal Inland Revenue Service to further this objective.