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Mainstreet Bank appointed collecting bank for FIRS

By on December 28, 2011

Mainstreet Bank Limited has been appointed an agent for tax collection and other remittances by the Federal Inland Revenue Services (FIRS).

With this appointment, individuals and corporate organizations can now pay all their FIRS taxes into any of the 200 branch offices of Mainstreet Bank across the country.

The appointment, according to a statement from the bank, affords it the opportunity to collect Company Income Tax; Value Added Tax (VAT); Withholding Tax; Education Tax; Nigerian Information Technolo-gical Development Funds; Pre-Occupa-tional Levy; Capital Gains Tax; Pay As You Earn (PAYE); Stamp Duties; Personal Income Tax and other taxes and remittances.

The bank’s robust collection system has been strengthened by the on-going retooling of its internal processes and the deployment of superior e-Payment infrastructure to ensure seamless transac-tions for its customers who can henceforth walk into any of the bank’s branches across nationwide to make all payments due FIRS.

In addition to FIRS payments, Mainstreet Bank has mandates to collect Internally Gene-rated Revenue (IGR) in 31 states of the Federation.

The bank is also a collecting agent for DSTV, HiTV, Aero Contractors Book on Hold, Air Nigeria Book on Hold, Customs duty/Levies, StarTimes Collections, Autoreg Vehicle Registration, and other frontline products and services.

Speaking on the bank’s appointment, Faith Tuedor-Matthews, Group Managing Director/CEO of Mainstreet Bank, expressed appreciation to FIRS for the confidence it has reposed in the bank to handle its collections.

According to her, “Mainstreet Bank truly supports federal and state governments’ efforts at generating revenue internally for develop-ment, which is why the bank has positioned itself as a strategic partner in collections and remittances.”