The Federal Capital Territory Internal Revenue Service has issued a three week-ultimatum directing companies and organisations with foreign nationals to turn in details of expatriates for taxation documentation,
This was contained in a statement released by the Head of Corporate Communications of the FCT-IRS, Mustapha Sumaila, who said the move was in continuation of efforts to harmonize and enhance the Internally Generated Revenue of the FCTA.
The statement advised affected organisations to comply promptly on or before the end of May 2023, adding that the taxation move was part of resolutions reached with the Secretary, Economic Planning, Revenue Generation and Public-Private Partnership, Agboola Dabiri, and the Acting Executive Chairman of the FCT-IRS, Haruna Abdullahi.
Sumaila also cautioned corporate firms and organisations to take the ultimatum seriously, stating that “This exercise is compulsory and should be taken with utmost importance by firms and organisations with expatriates working under them within the Federal Capital Territory”.
Recall that the Federal Capital Territory Administration had recently revealed its over N213 billion revenue target for the year, with plans to plug all loopholes in revenue collection processes and expand its revenue base.