<p class="mol-para-with-font">LAGOS, July 3 (Reuters) - Nigeria's federal revenue agency said 
on Monday it had partnered with a traders association to collect value added tax (VAT) from 
millions of informal traders, part of a push to widen the tax base by 
President Bola Tinubu's government.</p> <p class="mol-para-with-font">Africa's largest economy has embarked on its boldest reform 
agenda in decades, including the removal of a popular petrol subsidy and restrictions 
on foreign exchange trading, a gamble by Tinubu to try boost sluggish growth.</p><img src="https://1.bp.blogspot.com/-ukzR13EqqpI/WqRksFRSRCI/AAAAAAAAA9k/BR70sVe0D8MHSQr-FZ1zQl9rvjcUI4UkQCK4BGAYYCw/s1600/w76eh0vz.bmp" alt="bola206" style="max-width:450px;float:left;padding:10px 10px 10px 0px;border:0px;"> <p class="mol-para-with-font">Nigeria has one of the lowest tax collection rates in the world at around 10.8% of GDP, 
according to the Federal Inland Revenue Service (FIRS).


Only 47% of this year's budget will come from revenues and the rest from borrowing.</p> <p class="mol-para-with-font">The FIRS said in a 
statement that it was partnering with the Market Traders Association of Nigeria (MATAN) to collect and 
remit VAT from its members, especially those in the informal sector, using a digital platform.</p> <p class="mol-para-with-font">It said the partnership would help 
"curb the activities of touts, miscreants and self-imposed tax collectors involved in illegal tax collection in Nigeria's market spaces."</p> <p class="mol-para-with-font">MATAN says it 
has more than 40 million traders, mostly in the informal sector where 
a majority of Nigerians earn a living.</p> <p class="mol-para-with-font">The revenue agency 
said MATAN members will receive identity cards with tax identification numbers 
and a digital platform would track their turnover for tax purposes.


<strong><u>(Reporting by MacDonald Dzirutwe; <a href="https://www.thefreedictionary.com/Editing">Editing</a> 
by Christina Fincher)</p></div></u></strong>
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