Speaking during a press briefing on Friday, May 31, in Abuja, the experts under the aegis of Osvan Services, lamented the current method of tax collection, noting that the method is outdated and prone to leakages, which has resulted in significant revenue losses for the country.
As reported by BusinessDay, the experts argued that adopting fintech and machine learning could significantly improve tax collection processes and reduce leakages.
This, the group of experts advised the current administration to key into its fintech platform for e-commerce to enhance the tax collection system, The Daily Times reported.
The chief executive officer, CEO of OSVAN Services, Avanrenren Osamede Leonard, stated that the platform is designed to utilize advanced technology to simplify the tax collection process, reduce corruption, and enhance the nation’s economy.
He said:
QorePay, a new financial technology company, has launched in Nigeria, targeting small and medium enterprises (SMEs) and deepening financial inclusion.
Apart from its payment solutions addressing the challenges of small businesses, QorePay wants to ensure that every SME in Nigeria transitions from the traditional payment system to digital payment.
Source: TimesNow.com.ng
