FCT-IRS targets N202bn revenue in 2022 after remitting N118bn to FCTA

Nigeria’s Federal Capital Territory Minister Muhammed Musa Bello

The Federal Capital Territory Internal Revenue Service (FCT-IRS) is projecting a revenue of 202 billion naira in 2022 after remitting 118 billion naira to the Federal Capital Territory Administration (FCTA) as at November 2021.

This was disclosed by FCT-IRS Acting Executive Chairman Haruna Abdullahi, who explained that the figure meant the service surpassed its target by 108 per cent.

“In spite of the challenges faced by the Service and FCT due to the impact of COVID-19, we were able to achieve and surpass our revenue target of N109 billion by 108 per cent as at the end of November 2021.

“With this, the Service has so far collected and remitted the sum of N118 billion,” Abdullahi said.

He revealed that FCT-IRS engaged some consultants to conduct a six-year back duty tax audit of Ministries, Department and Agencies (MDAs), Enterprises and Corporate Organisations in the FCT within the year under review.

He said the engagement had started yielding fruits because liabilities have been established and demand notices have been issued in accordance with Section 54 PITA, CAP P8, LFN, 2004 (As amended).

“It is also important to let you know that we are currently meeting with about 250 MDAs for the review and reconciliation of IPPIS/Personal Income Tax/PAYE.

“This is to address issues of wrong remittance, non-remittance and under-remittance of employees of MDAs in the FCT.

“We are carrying out this exercise in collaboration with the Office of the Accountant-General of the Federation and Joint Tax Board.

“Let me use this medium to invite all the MDAs that are yet to come for the exercise to please turn up before the deadline of Dec. 10, 2021,” he said.

The acting chairman said the Service would not rest on it oars, until it becomes the highest sub-national revenue generating agency in the country.

He, therefore, solicited the support of all major stakeholders, including the media, in order to achieve the target.

“Though it is a huge task but with determination and commitment of Board members, management, staff and stakeholders like you, we shall achieve the 2022 target,” he said.

He said the Service planned to embark on an aggressive public enlightenment campaign to educate and mobilise prospective taxpayers with a view to boosting the revenue base of the FCT.

The acting chairman explained that since the inception of the Service, it had been educating and sensitising the residents and taxpayers to their civic responsibilities.

Abdullahi said that in 2022 in collaboration with the relevant law enforcement agencies, the Service would also embark on enforcement of it mandates.

“This is in accordance with section 8 and Part V of the FCT-IRS Act 2015. This resolve has become necessary to address defaulters who insist on shortchanging the FCT Administration,” he said.