FCT to inaugurate own internal revenue service

THE Federal Capital Territory Administration has announced plans to inaugurate its new internal revenue service in order to ensure transparency and harmonisation of tax collection in FCT.

Federal Capital Territory (FCT) administration at the weekend, said it would, during the week, inaugurate its new internal revenue service.

Minister of FCT, Malam Muhammad Bello, made this known in Abuja at the 2017 4th annual general meeting public session of the Manufacturers Association of Nigeria ( MAN), with a theme: “The role of government in developing industrial raw materials to boost manufacturing productivity in Nigeria.”

Bello, while stressing that the internal revenue service might be inaugurated this week, said this would help address complaints by manufacturers of being over-taxed.

He disclosed that the FCT tax payment service was formerly managed by the Federal Inland Revenue Services (FIRS).

He said: “A lot of you feel that you are being over-taxed, but with a lot of dialogue done, the FCT by the grace of God this  week, we are inaugurating the new FCT internal revenue service, it is something we never had in the FCT.

“Taxes in the FCT were collected on our behalf by the Federal Inland Revenue Service, this will bring about transparency and taxes will be harmonised.”

He, however, urged Manufacturers Association of Nigeria (MAN) members to make data available to government agencies on request, saying this was crucial to policy formulations.

Earlier, MAN’s president, Dr. Frank Jacobs, noted that the manufacturing sector was best placed for social regeneration in terms of employment creation and poverty alleviation.

He also sought the Federal Government’s assistance in fast-tracking the allocation of land for the Abuja MAN house.