In a bid to tackle issues of tax leakage and evasion in Nigeria, Osvan Services has launched its fintech platform for E-commerce to enhance the Tax collection system.
Avanrenren Osamede Leonard, Chief Executive Officer (CEO), of OSVAN Services said that the platform aims to leverage cutting-edge technology to streamline the tax collection process, minimize corruption, and boost the country’s economy.
Speaking at a press conference, on Friday in Abuja, the CEO highlighted the critical need for modernizing tax collection methods in Nigeria to minimize the rampant leakage of funds and lack of accurate data plaguing the current system, leading to significant revenue loss for government agencies.
“Our platform will solve three key problems, Firstly, it addresses the issue of outdated technology and data collection methods, which have contributed to widespread corruption and inefficiency. Secondly, it aims to alleviate the burden of heavy taxation on citizens by ensuring fair and transparent collection practices. And thirdly, it seeks to combat tax evasion through the implementation of robust data collection and security measures.”
Leonard added that central to the platform’s functionality is its comprehensive database, which will store crucial information on taxpayers and their obligations. According to him, by utilizing advanced technology, including cybersecurity protocols to thwart cyber attacks, the platform aims to safeguard sensitive data and ensure the integrity of the tax collection process.
He emphasized further that the platform will support all levels of government in Nigeria, from federal to local, as well as facilitate collaboration with commercial entities. “We will leverage existing government databases while integrating our technology to enhance efficiency and accuracy.
“In Nigeria, the time is ripe for embracing modern solutions to age-old challenges, Our platform represents a significant step forward in transforming tax collection and bolstering economic growth in the country.” he said
