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FMF deploys technology for online filing of tax returns Q1 2018

by HOPE MOSES-ASHIKE

December 15, 2017 | 6:58 pm
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The Federal Ministry of Finance (FMF) through the Federal Inland Revenue Service (FIRS ) has deployed technology for online filing of tax returns in the first quarter of 2018.

Babatunde Fowler, chairman, FIRS, disclosed this in Lagos at the sensitization programme for professionals and advertising agents on Voluntary Assets and Income Declaration Scheme (VAIDS).

He said any tax payer that refuses to pay tax on profit or any tax payer who refuses to pay tax on his income is cheating.

According to him, regardless of the vision government may have, without revenue it remains a dream.

“We have also deployed technology and in the first quarter of next year hopefully we have small cubical where you can luck into any FIRS office and file your returns online. For those of you who are not sure of how to do it, there will be staff in the office that will take you through the process and also the possibility of using our computers and son to file your return”, Fowler said.

He further said “we at FIRS is partnering with the states in terms of logistics. We are supporting the states so your tax as an individual will go to the state”.

Speaking at the event, Abiola Sanni, Professor of Commercial Law (Taxation), Lagos State Professor of Taxation & Fiscal Matters, University of Lagos, told professionals to recognise the potentials of VAIDS for improving the tax system and business growth.

Delivering a paper on the topic, ‘Understanding VAIDS: The Legal Framework’, Sanni said the VAIDS program can be lawfully implemented under the various existing tax statutes.

“VAIDS has come to stay, it is commendable that the Ministry of Finance/FIRS/JTB are engaging in taxpayers education on continues basis. Taxpayers should bear in mind that ignorance of law is not an excuse”, Sanni said.

He told Taxpayers to take tax compliance seriously, invest in record keeping as one of the important obligations under the tax laws.

“Successful tax amnesty is a journey not a dash. Understanding and getting the legal framework right is a critical step in this journey”, Sanni added.

 

HOPE MOSES-ASHIKE


by HOPE MOSES-ASHIKE

December 15, 2017 | 6:58 pm
  |     |     |   Start Conversation

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