The Joint Tax Board (JTB) and the
Federal Inland Revenue Service (FIRS) has said it has started sharing
information of high net worth individuals to profile their income and
tax payments to ensure they pay the appropriate taxes...
Speaking at the 138th meeting of the JTB
on Sunday, Executive Chairman of the FIRS, Babatunde Fowler, said 12
states have signed the memorandum of understanding under the Voluntary
Assets and Income Declaration Scheme (VAIDS).
Fowler, according to the news Agency of
Nigeria (NAN), said the tax board has engaged the services of a
consultant to ensure that states tax authorities and the FIRS integrate
data to improve compliance and tax revenue.
According to Fowler, this would ensure
the FIRS and JTB identify high net worth individuals, track their tax
status and compliance. He announced that there are no untouchables as
regards the implementation of VAIDS.
Speaking on behalf of the FIRS and the JTB, I want to assure you that we
have received the blessing and political will of the president, the
acting president to implement VAIDS.
“The executive is behind us, the senate,
the house of representatives, are behind us and the judiciary is behind
us. It is now left for us to perform our duties in the right and best
way,” he said.
“We are changing the financial profile
of the country and of course, taxation is in the forefront. Our vision
is to ensure that the governments, at all levels have enough resources
to provide essential facilities to everyone. We are also moving away
from taxes based solely on oil that are not predictable to non-oil
taxes.
“I am happy to announce that at no time
in the history of the FIRS have states and JTB have enjoyed this level
of collaboration that we are enjoying today. Collaboration is important,
states cannot be said to be doing well if the FIRS is not doing well.
In the same vein, FIRS cannot be said to be doing well if states are not
doing well.
“Between September 25 and 29 2017, the
African Tax Administration Forum will be meeting in Abuja. Leaders of
tax authorities will be in attendance. We believe that collaboration
between heads of tax authorities and ministers of finance is healthy for
tax work. We will encourage them to come.”
In June, Acting President Yemi Osibanjo
had signed an executive order on voluntary assets declarations, saying
tax payment is a duty to the nation.
No comments: