Economy

Double taxation: FCT-IRS moves to harmonise taxes, levies

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Double taxation: FCT-IRS moves to harmonise taxes, levies

By Lydia Ngwakwe The Federal Capital Territory-Internal Revenue Service (FCT-IRS) brought together stakeholders in Lagos to harmonize taxes and levies, to address the issue of multiple taxation in the FCT.

FCT-IRS Executive Chairman Abdullahi Attah at the stakeholder retreat in Lagos on Tuesday said harmonization will help boost revenue generation in the territory.

The Nigerian News Agency reports that the two-day retreat is titled: “Towards a Harmonized Income Management Framework in the CTF”.

Attah explained that her agency could not continue to work in isolation, which is why she decided to meet with stakeholders and define a new approach to working to achieve their common goals.

He said the need for harmonized systems, structures, processes and procedures across the territory could never be overestimated.

“When the issue of harmonized systems or a framework is discussed within the CTF, there is usually some concern about what we are trying to achieve.

“Zone councils, as we know, are autonomous and autonomous, however, we are all part of the administration of the CTF, with an emphasis on providing services to the natives and residents of the territory.

“So the question is how to best work together within the existing governance system in the CTF and ensure that we are able to pool resources, use existing systems, know-how and even data to enable us to maximize the revenue-generating potential of the CTF. IRS.

“In doing so, we do not believe that one organization within the FCT administration has all the information and knowledge, but if we work together we will improve collaboration, exchange of information and subsequently strengthen our ability to improve revenue generation and management within the CTF, ”he explained.

Alhaji Muhammad Bello, the FCT Minister, said that the FCTA is aware of the challenges associated with claims on revenue collection rights in the territory and the related problems of multiple taxation.

Bello, represented by Mr. Olusade Adesola, permanent secretary of the CTF, said the multiple taxes were likely to erode confidence and encourage discouragement among taxpayers.

According to him, the task that awaits the participants is simple but very essential and esteemed, which is “the efficient collection and efficient management of our internal revenues”.

“We are all aware of the challenges associated with claims on revenue collection rights in the CTF and the related issues of multiple taxation.

“And that has a huge negative impact on our ease of doing business, because it erodes trust and creates discouragement instead of the other way around.

“Several meetings have been held in this regard, and several decisions have been taken, but we are not there yet. If we were home and dry on this thorny issue, we wouldn’t be here, right?

“I’m sure our regional council presidents or their representatives and other stakeholders are also very concerned about this, and on this page about it.

“I therefore strongly urge us to make wise use of this trip to Lagos. May posterity be kind to us, and remember us for providing lasting solutions to this persistent problem.

“We need to develop a mutually acceptable mechanism that is foolproof, such that it can block all loopholes in the collection of our enormous revenue resources,” he said.

In addition, the minister urged stakeholders to explore ways to expand income fallow areas.

The Nigeria News Agency reports that the retreat brought together some members of the National Assembly, representatives of CTF income-generating agencies and board chairpersons, among other stakeholders.

Source: NAN

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