play_arrow

keyboard_arrow_right

Listeners:

Top listeners:

skip_previous skip_next
00:00 00:00
playlist_play chevron_left
volume_up
  • play_arrow

    Kapital FM 92.9 The Station that Rocks!

Local

Touting, Multiple Tax Collection Over In FCT With Harmonization

todayJuly 10, 2023 64

Background
share close

 

 

 

 

The Federal Capital Territory Internal Revenue Service, FCT- IRS, says revenue harmonization drive of FCTA will bring an end to the era of multiple taxation and promote ease of doing business in the territory.

Permanent Secretary, FCTA, Mr Olusade Adesola gave the assurance at a town hall meeting organized to garner support of stakeholders on harmonization of revenue in FCT, Abuja.

Mr Adesola who explained that the FCT IRS is saddled with collecting all revenues on behalf of the six Area Councils, expressed optimism that the initiative would put an end to gangsterism and make FCT an investment friendly destination.

He said the ongoing efforts at mobilizing stakeholders and harmonizing revenue collection systems in the territory was targeted at attracting both local and foreign investors to Abuja.

Olusade noted that the decision to embark on the revenue collection harmonization drive in collaboration with the six Area Councils, was also in line with best global practices.

His words:”by simplifying and consolidating our revenue collection systems, we aim to attract more investment, stimulate economic growth, and create employment opportunities.This will enhance the FCT’s reputation as an investment-friendly destination and contribute to the overall development of the region”.

On his part, Acting Chairman FCT- IRS, Mr Haruna Abdulahi in a welcome address said the unification of tax collection system in the territory, would serve as a transformation tool that will shape collective prosperity for all in the future.

According to him, the harmonization processes were duly backed by extant laws and regulations, adding that the the initiative would enhance transparency and accountability in the systems.

” the Federal Capital Territory Internal Revenue Service Act entrusts us, the FCT-IRS, with the duty to collaborate with relevant stakeholders and agencies in harmonizing and improving our tax practices.
This is aimed at optimizing our revenue generation efforts, while ensuring simplicity, transparency, and accountability in our tax systems.

“Section 45 of the Act establishes the FCT Joint Revenue Committee, while Section 46 of the same Act outlines the functions of the FCT Joint Revenue Committee (FCTJRC), which are to: Harmonize tax administration in the FCT. Deal with revenue matters of common concern to the FCT and Area Councils. Enlighten members of the public generally on FCT and Area Council revenue matters.”

Speaking on behalf of the Chairmen, the Kuje Area Council Chairman, reiterated the support of the Chairmen and called for the full implemention of the harmonization resolution from the ‘Akure Accord’ 100% .

The Immediate Past Senator representing FCT, Philip Aduda pointed out that with proper harnessing of taxes, Abuja would be greater.

He however stressed the need to have a bi- law on the matter, even as he urged the Council Chairmen to ensure that whatever is generated is optimally used for the overall development of the city.

Most of the Stakeholders at the forum unanimously agreed that tax harmonization is a sure way to tackle lost revenue, multiple taxation as well as strengthen collaboration between FCT Administration revenue agencies and Area Councils.

The FCT harmonization Town Hall meeting which brought together the six Area Council Chairmen, Royal Fathers and business stakeholders, has as its theme “Harmonization Drive: shaping our future together”.

Remi Johnson, Edited By Grace Namiji

Written by: Kevin Nwabueze

Rate it

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *


0%