TAX REFORMS BILL

The board was delighted to note the progress made in the passage of four out of the eight (8) Tax Bills in the two houses of the National assembly and also urged that they expedite action on the outstanding Tax bills as a way of making tax administration more result oriented in Nigeria .

AUTOMATION

The board reiterated the indispensable role of government of automation in revenue generation and therefore called on the state government whose revenue collection systems have not been automated to take appropriate step in hat direction. It further calls on federal and state governments to embrace full automation of revenue administration.

USE OF TAX CLEARANCE CERTIFICATES

Members of he public were reminder of the provisions of section 85 sub – section 4 of personal income tax act CAP P8 LFN 2004 in respect if the use of Tax clearance certificates and urged to comply.

TAX PAYER EDUCATION

The board appreciates the critical contribution of information and tax payer education as essential ingredients in the enhancement of compliance by tax payers. It therefore calls on the three tiers of government to invest in education of tax payers through the effective use of the media.

I pursuit of this policy to make tax payer education a top – priority, the board has published its maiden edition of JJB news along side other important tax publications for widespread distribution at no cost to the tax paying public. It has also decided to organize an international tax conference in Nigeria before the end of the year.

COMPUTATION OF INTEREST FOR TAX DEFAULTERS

The board clarified that in computing interest for tax defaults, the principle of compound interest should be adhered to in conformity with section 77 of the personal income tax act CAP P8 LFN 2004 as amended.

COLLABORATION AMONG REVENUE STAKEHOLDERS

The board reiterates its call on revenue collecting agencies and institutions to collaborate with various revenue authorities at the federal, state and local government levels to enhance revenue generation through free flow of relevant information.

The board also enjoined collaboration between the state government and the local governments on taxes collectible by two tiers to curd menace of multiplicity of taxes through enactment of appropriate legislation in the state House of assembly.