Home | News | General | No better way to diversify an economy than through taxation ― FCT-IRS boss
Why we didn’t follow Umahi to APC— Ebonyi NASS Caucus
Anambra generates N85.5m from tertiary education in 10 months — Commissioner

No better way to diversify an economy than through taxation ― FCT-IRS boss





Kindly Share This Story:
No better way to diversify an economy than through taxation ― FCT-IRS boss
Nestoil

Mr Abdullahi Attah, the Executive Chairman, FCT Internal Revenue Service (FCT-IRS) says there can be no better diversification of economy than through taxation.

Attah said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday.

He said that taxation was major means of raising funds for government’s expenditure hence the need for a responsible government to take that seriously.

He said many developed countries of the world depended on tax to generate revenue for development projects.

“When people pay tax, they feel a lot of pains because they are not seeing any direct benefits; to them they don’t see the military protection or police protection as well as infrastructure and other benefits to them.

“The fact is that they may enjoy them because these are the things that must necessarily be provided.

“Country like Norway that produces a lot of oil depends on taxation to survive; it keeps its oil in Sovereign Wealth for a rainy day.

“In Rwanda too, it has been living on taxation and Nigeria itself during regional government in 1950s and 60s, all the regions were depending on taxation.

“When oil came and then we started depending on it as if it is something that will last. It will finish; we must necessarily go back to taxation,” he said.

Attah disclosed that the service had decided to step down enforcement on non-filing of tax returns by taxpayers because of COVID-19.

He said every taxpayer was expected to file his or her tax returns by March 31 of every year but due to the pandemic, the FCT-IRS had given them enough time to do so.

According to him, in spite of the time given, some people have not filed their annual tax returns to the service.

He urged taxpayers who had not filed their tax returns to do so in the FCT-IRS offices nearest to them.

[NAN]

Vanguard News Nigeria

Kindly Share This Story:

CLICK HERE TO READ MORE FROM: General Visit website


view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 Displaying 1 - 100 of 183