The Federal Capital Territory-Internal Revenue Service (FCT-IRS) stated that double taxation adversely affects the ease of doing business because it erodes confidence, builds discouragement. The agency is looking to harmonise taxation in Nigeria’s 3rd largest IGR earning territory.
This was disclosed by the Executive Chairman of the FCT-IRS, Mr Abdullahi Attah, at a stakeholders conference in Lagos, on Tuesday, themed: “Towards a Harmonised Revenue Management Framework in the FCT.”
The FCT revenue boss said the agency could not continue to work in silos, and needed collaboration with stakeholders to form a new way of working to achieve their shared objectives.
What they are saying
“When the issue of harmonised systems or a framework is discussed in the FCT, there is usually some concern about what is sought to be achieved,” he said.
“The Area Councils, as we know are autonomous and self-governing, however, we all form part of the FCT administration, with a focus on providing services to indigenes and residents of the territory.
“The issue, therefore, is how best to work together within the existing governance system in the FCT and ensure that we are able to pool resources, utilise existing systems, know-how and even data to enable us to maximise the revenue generation potentials of the FCT-IRS.
“In doing this, we do not believe that any one organisation within the FCT administration has all the information and knowledge, but if we work together, then we will improve collaboration, exchange of information and subsequently enhance our ability to improve revenue generation and management within the FCT,” he explained.
Meanwhile, FCT Minister Alhaji Muhammad Bello, said the FCTA was aware of challenges associated with claims over rights of revenue collection in the territory and attendant issues of multiple taxation.
“We are all aware of the challenges associated with claims over rights of revenue collection in the FCT and attendant issues of multiple taxation.
“And this greatly impacts adversely on our ease of doing business because it erodes confidence and builds discouragement instead of the other way round,” he warned.
He urged stakeholders to make judicious use of this trip to Lagos. “Let posterity be kind to us, and remember us for bringing lasting solutions to this lingering problem,” he said, adding that they must work out a mutually acceptable mechanism that is fool-proof, such that can block all loopholes in the collection of our huge revenue resources.
What you should know
In 2020, Lagos State recorded the highest Internally Generated Revenue of N418.99 billion, accounting for 32.1% of the total and closely followed by Rivers State with N117.19 billion.
Others with the highest IGR in 2020 include FCT (N92.06 billion), Delta (N59.73 billion), and Kaduna (N50.75 billion).
Do you find Netxclusive useful? Click here to give us five stars rating!
No one has commented yet. Be the first!