The Federal government has concluded arrangements to harmonize revenue collection in the Federal Capital Territory, FCT and Sub-States across the Federation. 

The minister of FCT Mallam Muhammad Bello made this known in Akure, Ondo State during a two-day retreat on the harmonization of revenue collection in the FCT 

Mallam Muhammad Bello decried that multiple agencies and departments responsible for the collection of various taxes and fees from businesses and individuals had caused confusion, duplication, and inefficiency within the system 

Represented by the permanent secretary, FCT Administration, Sir Olusade Adesola, the minister explained that the reform would enhance transparent, predictable and efficient regulatory environment for businesses 

Earlier, Governor Oluwarotimi Akeredolu was represented by Ondo state commissioner for finance, Mr Wale Akinterinwa recommended policy and administrative reforms which he said had increased the State’s IGR from 10.2 billion naira in 2017 to 32.8 billion naira in 2022

Also, the Deji of Akure, Oba Aladetoyinbo Aladelusi who described the tax as an essential tool for national growth advised the government on moderate taxation to encourage small businesses to grow 

In separate remarks, some participants including Chairman of, Federal Inland Revenue Service, Muhammad Nami described the retreat as not only timely but also a key to getting sustainable internally generated revenue for a better standard of living

Olorunferanmi Odofin

Subscribe to our Telegram and YouTubeChannels also join our Whatsapp Update Group


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *