Posted by Muhammad Nasir Bello | 19 December 2017 | 1,057 times
The Chairman of the Joint Tax Board (JTB), Mr Tunde Fowler, on Monday said the Federal Government planned to obtain and access information on all categories of taxpayers through Voluntary Asset and Income Declaration Scheme (VAIDS).
At the 139th meeting of the board held in Sokoto on Monday, Fowler said the most important aspect of Nigeria’s tax administration which required attention was registration of taxpayers of all categories.
He added that “available records showed that an estimated 80 percent registered taxpayers were from formal sector, an indication that very low income was generated from tax in the informal sector.
“Our plan now is to bring in the high net-worth individuals into the tax net to ensure that everyone is in the tax net.
“This is to ensure that everyone is fully involved in contributing toward the development of our country.
“Moreover, it is an agreed fact that majority of the individuals in the private sector, including self-employed persons, professionals and high net-worth individuals are in default of paying relevant taxes, which they are liable to pay.
“To address these challenges, therefore, government planned to access and obtain information on all categories of taxpayers through VAIDS.”
The Chairman explained, that going by the plan, taxpayers would be encouraged to provide information to facilitate correct assessment and payment of relevant taxes.
He called on the public to support tax authorities and revenue agencies to enable efficient discharge of duties by collecting the needed revenue to fund government projects and service delivery.
Fowler thanked Sokoto State Governor Aminu Tambuwal for hosting the meeting and for committing resources in that regard.
The Governor commended JTB for choosing the state for the meeting and called on management of the board to remain committed to the development of the country.
Tambuwal, who was represented by the Finance Commissioner, Alhaji Sa’idu Umar, said the state government was working toward granting full autonomy to the state’s board of internal revenue.
He urged the public to be law abiding and pay tax when due, saying “it always pays to pay tax to get more developmental projects for the country.”
The Executive Secretary of JTB, Mr Oseni Elamah, commended the Sokoto State Government “for transforming the state’s Internal Revenue Service.”
He said “it is on record that Sokoto State’s 2017 half year IGR (Internally Generated Revenue) is almost equal to the annual IGR for 2016. I therefore urge the service to work harder to justify the support received from the state government.” (NAN)
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