4 December 2008
Lagos — -Targets non oil sector
MUHAMMAD KABIR, Kano
The Federal Inland Revenue Service (FIRS) has step-up efforts to achieve the formulation of the Yar'Adua Administration component of the Tax system strategy 2020 document through embarking on a robust tax reform agenda.
Already, the FIRS, has restructured their processes and re-engineered its operations which includes the integration of its offices across the nation, autonomy status, review of some of tax laws, intensification of taxpayers' education and staff capacity building.
Speaking during a workshop one payment system in FRIS in Kano, the Executive Chairman of the service, Mrs. Ifueko Omoigui Okauro, said the seminar will provide a unique opportunity to acquaint and educate the participants on the new products in addition to the PAY DIRECT system which will improve the service delivery to stakeholders, reduce compliance costs and foster voluntary compliance.
She said they are diligently following through with the push for the adoption and implementation of the national tax policy document, adding that the agency is working with the state and local governments to achieve the formulation component of the tax system strategy 2020 document.
Ifueko, explained further that they are presently dwelling on a number of fresh strategies including Tax deduction at source strategy, the use of the new Withholding tax (WHT) and PAYE e-payments templates/schedules, direct payment to collecting banks online payment the use of electronic tax cards, issuance of electronic tickets and issuance and use of taxpayer identification Number (TIN).
She said 'the efforts are in line with the approved list for collection] ACT No.21 of 1998', adding that this includes petroleum profits tax collectable from the oil producing companies, companies income tax payable by limited liability companies, value added tax payable by individuals and companies, capitals gains tax payable by limited liability companies on gains from disposal of certain properties.
FIRS boss, hinted that her agency seek to implement and adopt international best practice in the administration of its tax system through simplifying and computerising its processes to enable it serve the country better.
This she hopes will enable FIRS to raise non-oil sourced funds for governance in the face of the current global financial crisis.
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