The merger, according to the council, will aid the collection of all direct and indirect taxes and levies on behalf of the federal government.
The council therefore advised the passage of an emergency economic reform bill to grant the president special powers to drive the economic reform agenda.
One of the key suggestions is to identify, map, and consolidate the revenue collection function across crucial revenue generating agencies with the implementation of end-to-end automation for all taxes and levies, coupled with the utilisation of advanced big data analytics for improved tax collection.
In addition to improving existing tax collection mechanisms, the council also emphasised the need to expand the tax net by incentivising the informal sector to transition into the formal economy, design and implement balanced incentive-linked performance measures to drive the desired behaviour in revenue generating agencies.
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