News
How FIRS Plans To Realise Its Revenue Target -Fowler
The Federal Inland Revenue Service (FIRS) says it plans to realize its revenue target for the year through recoveries from defaulting millionaire taxpayers, values added (VAT) and compliance enforcement activities.
The Chairman of FIRS, Tunde Fowler, said in January that the agency’s revenue collection target for 2019 was about N8 trillion.
Mr Fowler told the House of Representatives joint committees on Finance, Appropriations, Aids, Loans and Debt Management Legislative Budget and Research and National Planning and Economic Development that he hopes about N750bn would be realized from about 55,000 defaulting taxpayers during the year.
Mr Fowler, who spoke on the 2019/2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), said using banking information to bring non-compliant taxpayers with N1 billion and above turnover to comply about N23.25 billion has been recovered so far.
He also restated that 85% of VAT collected goes to State Governments. He said the exercise has been extended to cover those with turnover of N100 million and above.
“To date, about 500 of the tax defaulters have come forward and have paid about N24 billion. We believe we should be able to go through the 55,000 before the middle of this year.
“In terms of estimates we should be able to be able to generate from this exercise alone about N750 billion.”
Besides, Mr Fowler said the FIRS also expects that the increase in Value Added Tax (VAT) collection between 2015 and 2018 will continue during the year.
He said FIRS is already broadening its VAT collection scope with the adoption of States Accountants Generals (SAG) collection platform, VAT Auto-Collect, integration of the GIFMIS platform with Ministries, Departments and Agencies, (MDAs) and through e-Service payment options.
Out of about N5.3 trillion, a large percentage of the revenue is shared between states and local governments.’ In VAT, there has been a growth of over 44 per cent between 2015 and 2018 at the current rate of 5 percent.
“When you look at Africa as a continent, Nigeria still has the lowest VAT rate. When we look at the items that do not attract VAT, they include basic food items, medicals, and education.
Insisting VAT is not for the poor, Mr Fowler said if one is able to go to a restaurant to eat and drink the same thing one can buy in the open market, then one can pay VAT.
“So, VAT basically is a consumption tax, and those who choose not to go to the open market to buy their food and cook at home are subject to VAT. So, VAT is not a hardship on the low income earners.
“For those who have the ability and the desire to take the choice of going to areas where they have to pay VAT, then they should be allowed to pay VAT,” he added. He said revenue collection by FIRS increased by about 32 per cent from N4.02 trillion in 2017 to N5.3 trillion in 2018.
The FIRS Chairman told the committee that through enforcement activities in respect of defaulting taxpayers from various tax offices, tax audit and investigation assessments, the agency recovered about N28. 51 billion and $77. 83 million.
Also, the FIRS is partnering with the Economic and Financial Crimes Commission (EFCC) and Joint Tax Force (JTF) since 2018 to enhance the fight against tax related economic fraud. As at December 2018, he said about N6. 94 billion and $278,430 had been recovered by the JTF as part of initiatives to boost revenue generation.
To deepen tax revenue collection and expand the nation’s tax net as well as increase the revenue base, Mr Fowler said the FIRS also initiated income tax on property owners in Abuja and Lagos.
He said the initiative, which was initially targeted at property owners in Abuja and Lagos, has so far yielded N4.3 billion, and is being extended to other locations like Oyo and Kaduna states.
“It is important to note that this is not a property tax, but rather the use of the provisions of the law to bring into the tax net companies that own properties but failed to file necessary tax returns and pay appropriate taxes due,” Mr Fowler said.
On tax audit exercise of the Service, the FIRS boss said this will cover both the National Tax Audit (NTA) and the Pioneer Audit (PA). The NTA exercise contributed the sum of N212.79 billion to tax collection in 2018.
News
FG Raises Duty Tour Allowances, Others for Public Officials
The Federal Government has approved an upward review of allowances for officers in public service.
Some of the allowances under review include Duty Tour Allowance, transport allowances, uniform allowances, and overtime allowances.
The decision was reached at the 46th meeting of the National Council on Establishment, chaired by the Head of the Civil Service of the Federation, Didi Walson-Jack.
The NCE, which serves as the highest policy-making body for public service matters, is chaired by the Head of the Civil Service of the Federation and includes the Heads of Service from the 36 states and the Federal Capital Territory.
The meeting was preceded by a two-day technical session chaired by the Permanent Secretary, Service Policies and Strategies Office.
News
Soun of Ogbomoso Urge Subjects Resident In Plateau To Promote Unity, Peace
The Soun of Ogbomosoland, Oba Ghandi Afolabi Olaoye has tasked the people of Ogbomosoland residing in Plateau State to unite and corporate with the government.of day both at the state and federal so as to move the Nation forward.
Oba Olaoye who gave the charge at grand reception organised to welcome him to Plateau State by the sins and daughters of Ogbomosho land residing in Plateau State advocated for national unity and peace of the nation.
” I urge you all to cooperate with the Government of the day and respect constituted authorities. “
” I implore that we sustain our exemplary good work ethics and strive to uphold the integrity of the land at all times,”
Olaoye urged the sons and daughters of Ogbomoso residing in the state to join hands in supporting his quest to develop the town.
He said, “To achieve this, it’s crucial that the indigenous people embrace their town with love and pride. I believe this is the foundation for meaningful growth.
He said to achieve a great country, Nigerians must commit to patriotism and rededication to the ideals of nation-building.
Speaking further, Oba Olaoye said” I did not know I was going to be King, until God revealed it to me, and that was the reason why I left the United States of America. “
Oba Olaoye emphasized that his aim is to put Ogbomosho in its rightful place and that there is the need for the people in the town to unite with him for the development of the town and that it was God that sent him to rebuild the city and to work for the progress of the city.
“ We are working to ensure that Ogbomosho would be different. In terms of development, Ogbomoso will be different in terms of peace, Ogbomoso will be different. I want you to know it is a new thing in Ogbomosoland.
“We cannot solely rely on the government. While the government will contribute significantly, much of the effort will come from us. It is time for us to unite, roll up our sleeves, and work together to develop our town.”
Speaking earlier the Asiwaju Yoruba of Plateau Chief Olajide Olagbemiro welcomed the Traditional ruler to the state and restated their commitment to peaceful coexistence with their host communities.
Jide said, “The Yourbas are peaceful people who obey constituted authorities .
We would continue to stay peaceful with our host communities, he added.
Our correspondent reports that the Soun of Ogbomosholand also paid a courtesy call on his Royal highness Da Jacob Gyang Buba, the Gbong Gwom Jos.
Foreign
BREAKING: Namibia Elects First Female President
Namibia’s ruling SWAPO party was declared winner Tuesday of last week’s disputed elections, ushering in the southern African country’s first woman president after a disputed vote that the main opposition has already said it does not recognise.
Vice-President Netumbo Nandi-Ndaitwah took just over 57 percent of ballots followed by the candidate for the main opposition Independent Patriots for Change (IPC) with 25.5 percent, the election authority announced.
Nandi-Ndaitwah, 72, becomes the first woman to rule the mineral-rich southern African country that has been governed by the South West Africa People’s Organisation (SWAPO) since independence in 1990.
The November 27 election was extended twice as logistical and technical problems, including a shortage of ballot papers, led to long queues.
Some voters gave up on the first day of voting after waiting for up to 12 hours.
The IPC has already said this was a deliberate attempt to frustrate voters and it would not accept the results of the elections.
Its presidential candidate Panduleni Itula, 67, said last week there were a “multitude of irregularities”.
No matter the result, “the IPC shall not recognise the outcome of that election”, he said on Saturday, the last day of the extended vote.
Opposition Rejects Poll
Itula said the IPC would “fight… to nullify the elections through the processes that are established within our electoral process”.
An organisation of southern African human rights lawyers serving as election monitors said the delays at the ballot box were intentional and widespread.
The Electoral Commission of Namibia (ECN) admitted to failures in the organisation of the vote, including a shortage of ballot papers and the overheating of electronic tablets used to register voters.
Of the nearly 1.5 million registered voters in the sparsely populated country, nearly 77 percent had cast ballots in the presidential vote, it said Tuesday.
The election was seen as a key test for SWAPO after other liberation-era movements in the region have lost favour with young voters.
In the past six months, South Africa’s African National Congress lost its parliamentary majority and the Botswana Democratic Party was ousted after almost six decades in power.
Namibia is a major uranium and diamond exporter but analysts say not many of its nearly three million people have benefited from that wealth in terms of improved infrastructure and job opportunities.
Unemployment among 15- to 34-year-olds is estimated at 46 percent, according to the latest official figures from 2018, which is almost triple the national average.
Nandi-Ndaitwah, a SWAPO stalwart known by her initials NNN, will be among the few women leaders on the continent.
The conservative daughter of an Anglican pastor, she became vice president in February this year.
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