The Chairman, Federal Inland Revenue Service, Mr. Tunde Fowler, says the agency has collaborated with the Office of the Accountant General of the Federation to ensure that Ministries, Departments and Agencies remit tax revenues promptly.

This, he said, was achieved through the implementation of the Government Integrated Financial Management Information System, which ensures that Value Added Tax and Withholding Tax were deducted from source on all Federal Government contracts.

Fowler said this was part of moves by the Federal Government to drive tax revenue and enhance payment of taxes by all individuals and corporate bodies.

The FIRS chairman spoke in a keynote remark at the 44th Annual General Meeting of the Association of Advertising Agencies of Nigeria in Lagos on Friday.

“We have also improved collaboration with the Office of the Accountant General of the Federation to ensure that the MDAs remit taxes promptly through the implementation of the Government Integrated Financial Management Information System, which facilitates deduction and remittance of Withholding Tax and Value Added Tax on all contract payments at source,” he stated.

According to him, the service has considered the convenience, proximity and ease of tax payment by introducing the idea that taxpayers can now file tax returns at any of the FIRS offices nearest to them.

The move, Fowler, said had increased compliance considerably.

He noted that advertising was key to the realisation of the objective, describing it as “a major change in more than 60-year shift in tax operational rules.”

Commenting on the achievement of the agency, the FIRS boss said, “In 2016, the country celebrated the addition of N27bn to the national treasury from a novel idea; the waiver of penalty and interest programme. The FIRS offered tax amnesty to taxpayers in default of payment of taxes between 2013 and 2015.

“The tax defaulters were allowed to pay the actual taxes owed, while the penalty and interest were waived. This was with a proviso: that they declared their indebtedness, paid 25 per cent of the principal amounts and present payment plans on the outstanding tax liabilities, acceptable to the service.

“It is likely that some members of this respectable association or your clients would have benefited from the unusual and generous avenue, which relieved them of their tax burden under the programme.”

http://investorsking.com/firs-agf-collaborate-deduct-vat-source/

This kind government sef... Very soon they will start tasking people for inhaling polluted air.

Pay ur taxes never pay those O

Best approach. thank you for waking up.

Taxes should be deducted from source, but don't forget to give them their certificates to prove same.

However, this might lead to reduction in manpower of taxes collectors. Nevertheless, same can be avoided by re channelling their roles to other aspects

and how is that different from the VAT scheme they are running at present?

deepwater:
Best approach. thank you for waking up.

Taxes should be deducted from source, but don't forget to give them their certificates to prove same.

However, this might lead to reduction in manpower of taxes collectors. Nevertheless, same can be avoided by re channelling their roles to other aspects

But the government are already deducting withholding tax at source na.

It's been long I heard something in this country. nice one

Ok they are always taking from the people, what are they giving to the people?

For all the improved taxation, increased revenues, removal of subsidies from fuel, stamp duty charges and other stealing from the common man; what have we seen in this con government.

Not forgetting the increased debt profile of this thieving government.


APC are criminals fleecing the common man to share with their cronys

I was like what has the Attorney General got to do with FIRS until I saw it as accountant general.
..
You can confuse person o. I don't know what to say about this.

Let me quickly say. ....please pray for prof. Osinbajo. God will strengthen him. And Buhari as well, for Good health, so he may come back

God hear our prayers. Amen

Lagos state govt shld stop this ORO sh*t in Ikorodu-o! Peopl hav weddings & other events fixd for today & oro is holding throughout

Ok oo

Check my signature for cheap internet data plan

Cool move..

When it comes to collecting from the public they develop best Practice to achieve the purpose.

When it comes to giving back to the Public, we all know the story.

deepwater:
Best approach. thank you for waking up.

Taxes should be deducted from source, but don't forget to give them their certificates to prove same.

However, this might lead to reduction in manpower of taxes collectors. Nevertheless, same can be avoided by re channelling their roles to other aspects

Brilliant!

Great move. It worked in Lagos, time to try it at the federal level

PAYE....

Was taught in pry school.....

eezeribe:
This kind government sef... Very soon they will start tasking people for inhaling polluted air.

Paying tax is not only the right thing to do. It is also a civil responsibility

Integrityfarms:
[s] For all the improved taxation, increased revenues, removal of subsidies from fuel, stamp duty charges and other stealing from the common man; what have we seen in this con government.

Not forgetting the increased debt profile of this thieving government.


APC are criminals fleecing the common man to share with their cronys [/s]

Where did you keep your brain.
So you also realise that revenue from oil has dropped

LastMumu:
and how is that different from the VAT scheme they are running at present?





But the government are already deducting withholding tax at source na.

The difference is that, prior to this new system, the ministries will deduct vat and withholding taxes from payments made to contractors but will not remit it to the tax authorities. They would just regard it as additional revenue and spend it as unbudgeted expenditure.

This was why contractors hardly get receipt for such deductions since tax authorities will only issue receipt for remitted taxes.

Now, the accountant general will withhold such deductions and remit.

LastMumu:
and how is that different from the VAT scheme they are running at present?





But the government are already deducting withholding tax at source na.

My dear I tire oo.

Problem is these govt agencies are not remitting the VAT and WHT usually deducted at source

2n2k:


The difference is that, prior to this new system, the ministries will deduct vat and withholding taxes from payments made to contractors but will not remit it to the tax authorities. They would just regard it as additional revenue and spend it as unbudgeted expenditure.

This was why contractors hardly get receipt for such deductions since tax authorities will only issue receipt for remitted taxes.

Now, the accountant general will withhold such deductions and remit.

Gbam. Lecture them abeg.

2n2k:


The difference is that, prior to this new system, the ministries will deduct vat and withholding taxes from payments made to contractors but will not remit it to the tax authorities. They would just regard it as additional revenue and spend it as unbudgeted expenditure.

This was why contractors hardly get receipt for such deductions since tax authorities will only issue receipt for remitted taxes.

Yeah you are right , and as much as I know, this problem has always been a hard nut to crack for the Federal Island Revenue Service. I don't see it changing soon though, regardless of whatever collaboration they (FIRS) are having with the Accountant General's office. Na govt go create tax laws, na them how still break am.

Now, the accountant general will withhold such deductions and remit.

Yeah I know, but the title of the thread is misleading. It made it look as if there is a new scheme by the federal government to start deducting VAT at source, when it is has been the status quo all along.

ikorodureporta:
Lagos state govt shld stop this ORO sh*t in Ikorodu-o! Peopl hav weddings & other events fixd for today & oro is holding throughout

thats their culture. Kindly move away from their

Brilliant minds!

Check out my signature

ikorodureporta:
Lagos state govt shld stop this ORO sh*t in Ikorodu-o! Peopl hav weddings & other events fixd for today & oro is holding throughout

that's Yoruba for u...sophisticated but out dated and fetish

Ok

But the practice has been in love all along.

Integrityfarms:
For all the improved taxation, increased revenues, removal of subsidies from fuel, stamp duty charges and other stealing from the common man; what have we seen in this con government.

Not forgetting the increased debt profile of this thieving government.


APC are criminals fleecing the common man to share with their cronys

Even if they do, will u care to see it?

Generalyemi:



that's Yoruba for u...sophisticated but out dated and fetish

Clap for urself....

Omexonomy:
thats their culture. Kindly move away from their

then they shldnt hav allowed non indegenes to settle here. Its this same culture that is hindering development in ikorodu - all sorts of cultists, ritualists, & kidnappers have come to settle here because of all these nonsense & they dnt want any changes to occur. They are the badoos

You run a business, provide water for yourself, run generator on a daily basis, pay high tarrif for the almost non existent electricity supply, employ security guards, no police protection against touts that disturb your business even though you financially support police operations in your area, pay multiple taxes of same nature (e.g. environmental vs sanitation vs effulent discharge) for state and local govenrment. At the end there is almost nothing left for you as a business owner. This country sef.