Don't Miss

Tax remittance will increase within one week – FG

By on September 16, 2015

The number of taxpayers across the country will increase within the next one week, the Federal Government has said.

According to the government, the requisite measures needed to actualise this feat have been made possible in partnership with various states’ boards of internal revenue service, adding that enforcement of the collection of taxes would henceforth be undertaken by the federal and state governments.

The Acting Executive Chairman, Federal Inland Revenue Service, Mr. Tunde Fowler, disclosed this on the sidelines of the 132nd meeting of the Joint Tax Board in Abuja on Monday.

Fowler, who doubles as the Chairman of the JTB, stated that the Federal Government’s target was to ensure that it achieved at least 99.9 per cent tax remittance compliance level.

“This means that every individual at the state level and every corporate organisation at the federal is taxed and pays the appropriate amount,” he said.

On how the agency would go about this, Fowler said, “We are going to exchange information with state boards of internal revenue so that we have all the information in a database. We’ve given them out already in case there is any company within their states that they don’t currently have on their database. That is step number one.

“So, immediately, we should have a growth in taxpayers both at the federal and state levels within one week.”

Asked for the volume of tax remittance to expect, the FIR boss said, “Let me not put a naira figure on it. But I can tell you in terms of percentages. Based on information given by the FIRS, they did say that they had about 450,000 corporate organisations, out of which one-third were paying.