Also, the bill when passed into would also prohibit anyone without Tax Identification Number from opening bank account in account.
Browsing: FIRS
Senate President, Ahmad Lawan, read the letter on the floor of the Upper Chamber during Tuesday’s plenary.
This was contained in a statement by Johannes Wojuola, Special Assistant to Nami on Media and Communication.
It is unlikely to be otherwise, particularly with the wildly different rulings it delivered in very similar matters it ruled on.
The company, which made its position known in a statement released on Wednesday evening, also said it would lodge an appeal against the ruling at the Federal High Court, adding that the TAT ruling was based on technicality rather than the merits of the case.
It is widely agreed by economic experts that tax revenue, not resource revenue, is the most reliable source from which the country can fund her development aspirations as happens in the world’s most progressive societies. Currently, tax compliance in Nigeria is still meagre. Speaking earlier this month at ‘Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill,’ Mohammed Nami, Chairman of the Federal Inland Revenue Service (FIRS), disclosed that Nigeria has 41 million taxpayers among its 200 million population.
The new rules were approved on 10 June to replace the TAT (Procedure) Rules, 2010.
“I am an advocate of strict tax compliance and I desire to see the tax affairs of every business in the country put under scrutiny, scientifically. But the way FIRS came up with the figure it attributed to MultiChoice is anything but scientific. The consultants hired by the FIRS to carry out an audit just manufactured figures that look very illiterate. I am not sorry to say,” he said.
The appeal by the FIRS is against the August 9, 2021 judgment by Justice Steven Pam of the Federal High Court in Port-Harcourt, voiding the Value Added Tax (VAT) Act and holding the states could collect VAT.
The Executive Chairman of FIRS, Mohammad Nami, gave the advice at 7th IGR Learning Event on Wednesday in Abuja.
The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, said this in an interview with the News Agency of Nigeria (NAN) in New York while speaking on the disagreement over the collection of VAT between FIRS and the Rivers State government.
This it said facilitated the generation of over N664 billion in June 2021, the highest ever generated sum in a single month since the outbreak of COVID-19.
This, it said, would enable businesses to know what to do.
This was contained in a communique after the meeting of the Forum in Enugu on Thursday.
The Federal High Court had on Aug. 9, declared that it was Rivers government and not the FIRS that should collect Value Added Tax, (VAT) and Personal Income Tax in Rivers.
According to a statement by the Director General of LCCI, Dr. Chinyere Almona, the current sharing formula is a major factor for the Value Added Tax imbroglio between state governments and the Federal Inland Revenue Service.
In the quest to resolve the issues and doubts, three fundamental and basic tax issues as stated by the following judicial decisions need to be restated and noted. What are they?
The federal tax agency is also requesting the federal lawmakers to approve for it, the establishment of the Federal Revenue Court of Nigeria.
The firm’s position was contained in an article published on its website. Titled “Reputational Risks and Tax: MultiChoice as Case Study”, the article stated that the FIRS may have adopted a faulty computational premise as well as given an impression that it is prejudiced against foreign companies operating in Nigeria.
The Governor spoke at a stakeholders’ meeting in Port Harcourt, the state capital, while addressing business owners.