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Tag: Babatunde Fowler

  • FIRS seals two companies over N8bn tax debt in Delta, Edo

    FIRS seals two companies over N8bn tax debt in Delta, Edo

    Officials of the Federal Inland Revenue Service ( FIRS ) on Wednesday sealed two companies in Delta and Edo over N8 billion tax debt.

    The Leader of the enforcement team, Mrs Anita Erinne, said the companies were sealed over failure to remit over N8 billion taxes payable to the Federal Government.

    She said that one of the affected companies (name withheld), located in Uvwie Local Government Area of Delta, was indebted to the tune of N121 million.

    She also revealed that the other defaulting company in Edo owed the government N8.1 billion.

    The team leader tendered separate “Warrant of Distraints’’ signed by the FIRS Chairman, Mr Babatunde Fowler, to the companies to justify the exercise.

    According to her, Section 3 of FIRS (Establishment) Act, No.13 of 2007 and Section 44(2) of the Constitution of the Federal Republic of Nigeria 1999 empowers the FIRS to close any defaulting company.

    “No member of staff or anybody should remove the FIRS seals until the companies paid their debts.

    “Any attempt to do that, the company will be liable to a tune of N200,000 as a fine to the government,’’ she warned.

    Erinne, however, advised companies to comply with the tax laws and remit their taxes promptly to avoid being sealed.

    The FIRS in 2017 netted N3.2 trillion in 10 months, an amount that represented 79.35 per cent of its target for the year.

    The Chairman of the Service, Mr Babatunde Fowler, then expressed readiness of his personnel to help Federal Government in blocking revenue leakages and increase collection of taxes payable to the government.

    NAN

  • JTB eyes 40m individuals outside tax net

    JTB eyes 40m individuals outside tax net

    The Chairman, Joint Tax Board (JTB), Mr. Babatunde Fowler, says the board is set to capture 40 million Nigerians outside its tax net by March, next year.

    Fowler, who is also the Chairman, Federal Inland Revenue Service(FIRS) gave the new target in Sokoto yesterday during a courtesy visit to the Sultan of Sokoto, Sultan Muhammad Sa’ad Abubakar III in his palace.

    He said those not captured in the tax net were various individuals, adding ” we would have captured at least 75 per cent by March 2018.”

    According to Folwer, the process is being driven with technology to promote effective implementation of e-payment channels.

    He told Sultan that the Board was fast moving alongside modernity to further simplify its operations as well stimulate states to improve on their Internally Generated Revenue (IGR).

    “We are in active collaboration and synergy not only to increase revenue but to strengthen the capacity for better services,” he said.

    The JTB chairman told the royal father that the Board was established in 1961 and it’s holding its meeting in Sokoto. He said it is saddled with the primary role of administering and managing income tax as well ensuring uniformity and harmonise relevant operational processes across the country.

    He appealed to Sultan Abubakar to support the board in projecting the need for public compliance with tax payments, noting that traditional institutions played significant roles in tax collection in the past.

    “You are a rallying point to rely on. We want you to speak to your subjects and other traditional institutions and rulers as well Nigerians to join and cooperate with the Board and relevant organs for tax payment compliance,” Fowler said.

    In his remarks, Sultan Abubakar recalled that traditional institutions were vocal and active in tax collection system and processes, noting that there was an appreciable level of compliance from their subjects.

    The monarch however, noted that the Board and other relevant bodies on tax operations must redouble their efforts by convincing Nigerians on why they should pay tax.

    “There is need to device a strategic framework for diplomacy, trust and fear of God to impeccably convince an average Nigerian to see it as a necessary responsibility to pay tax.

    “Most Nigerians, especially the poor, have divergent perceptions and misconceptions about not only paying the tax but how same revenues are being used.

    “Their trust faded with their perceptions. Some believe that there are loop holes and leaking pockets through which the revenues disappear because they don’t see any tangible thing being done with it”, he said.

    He urged the Board and its organs to re-examine their operations and ensure that appropriate penalties were put in place against evaders.

    He said:  “Rich people should be made to pay more tax than the poors and must be made to pay the real tax not as they wish or bargained for.”

  • Fowler unveils jerseys for BOOST project

    Babatunde Fowler, the Executive Chairman of the Federal Inland Revenue Service (FIRS) has commended the officials of the Basic Olive Opportunity Sports Training (BOOST) led by the Mary Onyali Sports Foundation (MOSPORTS) for their concerted efforts to bring up a new generation of athletes to make the nation proud.

    Mr Fowler spoke on the occasion of unveiling the 5,000 FIRS-branded jerseys his organisation towards the efforts of some of the nation’s retired athletes who have set up the BOOST project.

    He said, “we intend to take the tax payment message to every Nigerian. For the young ones, they will get to know that it is the continued payment of their taxes that guarantees their future.”

    Speaking earlier, Chief Onyali told the FIRS boss, “We are here to appreciate the massive support the Federal Inland Revenue Service (FIRS) has given us on the Basic Olive Opportunity Sports Training (BOOST). Certainly, we can’t thank you enough. The children who your impact will touch will some days grow to become global leaders and won’t be able to forget what you planted like a seed in their maturity.

    “May we report to you sir that the Athletics Federation of Nigeria (AFN) has keyed into our project and we are jointly setting up six National Athletics Development centres, one each in every region. The first is in Ondo State. We were with the governor last week. Some of these jerseys will be used in the state. Every of the children in the tennis programme we started with the first lady, Arabinrin Betty-Anyanwu, will get a copy of these jerseys.

    The 11 of us behind the BOOST project, will be in Maiduguri for a project tagged Kanem Sports+Peace initiative, where we have started raising funds to buy equipment in five sports, employ coaches to take sports to children and youths in the IDP camps. Our ambition is to help assuage the trauma they gone through and give them an assured sports career. We are taking some of the exercise books you gave us to them too.

    Mr Fowler unveiled the jerseys to the glory of God and the children and youths who will find the jerseys useful for the to make a career and bring honour to our country.

    Senior staffers of the FIRS witnessed the event. Former captain of the national team and Zamalek SC handball player, Olajide Fashikun was also present. Four children modeled the jerseys to the admiration of the people present.

  • FIRS reiterates commitment to seamless tax payment

    FIRS reiterates commitment to seamless tax payment

    The Federal Inland Revenue Service ( FIRS ) has said it is in full alignment with all efforts to grow national revenue from taxation while easing the inherent administrative burdens.

    It said though there are in existence various incentives in tax related laws that can benefit various businesses, it have also undertaken countless initiatives to lighten the burden of taxation on all payers.

    FIRS Chairman, Babatunde Fowler disclosed this Thursday at the special day of FIRS at the ongoing Lagos International Trade fair.

    Fowler, represented by Cyracus Nkechi, Lagos state coordinator, said the country has endured a severe economic downturn over the last two years, but as the country is gradually emerging from recession, governments at the federal and state levels are focusing energy and scarce resources towards reversing the negative impact of the recession on business via targeted tax and fiscal policies and other actions aimed at reinvigorating the business environment.

    He said: “With an eye on future developmental needs, we supported the changes introduced by the Revised National Tax Policy and working under the auspices of the joint tax board, we continue to advocate for the simplification, harmonisation and streamling of processes, levels and taxes at all levels.

    “Our participation in  the Presidential Ease of Doing Business Council project resulted in several changes to our operations in a bid to make compliance easier for tax payers and thus contributing to the significant upward leap of Nigeria’s ranking on the World Bank records.

    “We are also encouraging businesses and individuals to take advantage of VAIDS, a time limited opportunity for tax payers to tidy up their tax positions without fear of criminal prosecution before it winds down in December”.

    Fowler said to move from absolute dependence on oil to growth of the non-oil sector, attracting both entrepreneurs and investors to boost growth, jobs and revenue, it is critical to provide the information, resources and structures that will enable successful execution of the national economic recovery and growth plan.

    He commended LCCI on the theme of the fair which is timely and further illustrates the alignment between government and various stakeholders in the Nigeria project.

    LCCI president, Nike Akande said though they celebrate exit of the economy from recession, attention must be paid to policies and regulations that drive revenues, create jobs and attract investments to sustain the recovery.

    She said recent reports from FIRS that it had already collected N1.782 trillion as tax between January and July, 2017 shows the innovations deployed by the service in boosting the economy of the country.

     

  • Vivian Fowler College honours best student Miss Chloe, others

    Vivian Fowler College honours best student Miss Chloe, others

    The Vivian Fowler Memorial College for Girls, Lagos was in a celebratory mood as it held its graduation ceremony at its Oregun premises.

    At the well- attended ceremony which held recently, prizes and awards were given to students who had excelled in various academic works.

    L -R Mrs Rae Onerhime, Mrs Olufunke Fowler-Amba (Director, VFMCG), Miss Chloe Onerhime and Mr Stephen Onerhime
    Among these was Miss Chloe Onerhime who took the top prize as the Overall Best Student in English
    Language. She was also the Valedictorian at the ceremony.
    Other dignitaries at the event included Pastor Ituah Ighodalo (Chairman, Board of Governors, VFMCG) and Mr. Babatunde Fowler (Chairman, FIRS and member of Board of Governors of VFMCG).
  • FIRS reconfirms support for empowerment program

    FIRS reconfirms support for empowerment program

    Africa’s largest entrepreneurship network, Africa’s Young Entrepreneurs (A.Y.E) recently met with FIRS chairman, Mr. Babatunde Fowler at his office in Abuja. In the meeting, the Chairman of FIRS acknowledged the role of A.Y.E in development and commended the organization for its growth and impact on entrepreneurship in Nigeria and Africa. The two teams led by A.Y.E President Summy Francis and FIRS chairman Mr. Babatunde Fowler met to extend their ongoing partnership of  the AYEEN 2017 program.

    In the 2016 report compiled by FIRS communications and Servicom department, it was stated that the AYEEN 2016 partnership was favorable and instrumental in delivering thousands of new TIN registrations across the 6 different regions in Nigeria through the AYEEN program, the report also stated that through the program they were able to engage with thousands of entrepreneurs and business owners. The Johannesburg based organization through its AYEEN entrepreneurship program and reality TV show supported hundreds of young entrepreneurs with Grants, Equipment and Business loans.

    The organization made it mandatory for the thousands who took part in AYEEN 2016 to be responsible tax paying citizens. FIRS team acknowledged the benefit of A.Y.E- FIRS long term partnership; Mr. Fowler expresses his faith in the partnership and encourages the organization to continue with the great work on private entrepreneurship and not rest on its horses until entrepreneurial advocacy and development culminate into job creation and have a significant impact on our Nation’s economy. He further guaranteed the continuous support of FIRS to A.Y.E.

    Firs Chairman Mr. Babatunde Fowler presents token of appreciation to A.Y.E President Mr. Summy Francis.

    The AYEEN program this year dubbed AYEEN2017 has also attracted several other sponsors and partners, the reality TV show this year which is now co-produced by Wazobia Max will be televised across Nigeria and Africa by over 10 television stations: All MNET African Magic Channels, NTA, TVC, STV, WAZOBIA MAX , RAVE TV, WAZOBIA TV, BRTV etc. The broadcast which is scheduled to air on prime belt time in Q4 is set to reach over 30 million viewers and engage over 15 million online.  Other partners include: GLOBAL ENTREPRENEURSHIP INSTITUTE (GEI), AEES, SSF INVESTMENTS, AVIS NIGERIA, LAGOS ORIENTAL HOTEL, DANA AIRLINES, LASAA, THE NATION NEWSPAPER, MEGAMINDS,G.A PRODUCTIONS, EXP AGENCY, COOL FM, WAZOBIA FM, NIGERIA INFO, RHYTHM FM, RADIO CONTINENTAL…

    The meeting ended with an exhibition of FIRS top achievements and photo session led by the Chairman.

    The AYEEN 2017 registration for entrepreneurs and startups who need funding is ongoing and is set to close soon for registration, visit www.ayeen.ng, for sponsorship/partnership email sponsorship@ayeonline.org or call 080 6004 0620.

    AFRICA’S YOUNG ENTREPRENEURS EMPOWERMENT NIGERIA (AYEEN2017) PROUDLY SUPPORTED BY THE NATION NEWSPAPER.

  • FG targets $1 billion from asset, income scheme 

    FG targets $1 billion from asset, income scheme 

    …50% of recovered fund to go states

     

    The National Economic Council (NEC) on Thursday approved the proposed Nigeria Voluntary Asset and Income Declaration Scheme (VAIDS) which will take off May 1, 2017.

    It is expected to yield about $1billion to the Federal Government’s purse.

    The Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, disclosed this to State House correspondents at the end of the NEC, chaired by Vice President Yemi Osinbajo.

    He was joined at the briefing by Abia State Governor, Okezie Ikpeazu and Deputy Governor of Kaduna state, Bala Bantex.

    He said that the scheme will capitalize on the considerable international goodwill already built by President Muhammadu Buhari in his mission to rebuild Nigeria.

    The policy, he said, was necessitated by the under payment of tax via the use of Tax Havens and other evasion strategies, which he noted has not been helpful to Nigeria.

    According to him, the practice has been principally perpetrated by multi-national companies and high net worth individuals, making Nigeria to have the lowest non-oil tax to GDP at 6%.

    He said that the policy will also capitalize on the current global movement against tax evasion and illicit financial flows and will offer a window for those who have not complied with extant tax regulations to remedy their position by the provision of limited amnesty to enable voluntary declaration and payment of liabilities.

    He said the VAIDS scheme targets to increase the tax to GDP ratios to 15% from just 6% by 2020 while simultaneously generating revenue and encouraging investment and economic activity “as only 214 individuals in the entire country pay N20 million or more in tax annually.”

    On the scope of the programme, Bowler said: “VAIDS scheme will embrace all Federal and States’ taxes such as Companies Income Tax, Personal Income Tax, Petroleum Profits Tax, Capital Gains Tax, Stamp Duties, Tertiary Education Tax, Technology Tax.

    “The scheme is intended to cover all back taxes without any limit to time on how far back a tax assessment can go where a taxpayer has willfully defaulted.”

    The FIRS boss said the scheme is targeted to run from May 1, 2017 for up to six months and incentives will be put in place to encourage early participation.

    “Tax payers will be allowed up to 3 years to settle their liabilities. Revenue expected from the scheme conservatively estimated at US$1 billion,” he stated.

    On the role of state governments, he said that based on initial estimates, it is anticipated that at least 50% of the funds recovered will belong to states who are the ultimate collectors of personal income taxes.

    Kaduna State Deputy Governor said that the National Security Adviser (NSA), Babagana Munguno, briefed the Council on the security situation in the country with particular reference to Boko Haram insurgency in the North-East, cattle rustling, ethnic militias/security outfits, kidnapping, among others,.

    According to him, the NSA blamed the situation on unemployment, which he said was a major security threat.

    He also said that the Council has agreed to hold an extra-ordinary session to discuss security matters especially as it has to do with the economy.

    Abia State governor, who spoke on deforestation in the country, said that the Council backed suspension of temporary wood export from the country.

    It was also disclosed that NEC received report of Excess Crude Account as at 15th March, 2017, which stood at US$2, 45,864,724.59, recording a marginal increase of US$2,458,382,882.03.

     

  • 26 FIRS directors redeployed

    26 FIRS directors redeployed

    The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has approved the redeployment of 26 directors in the service and introduced the state coordinator structure in the system.

    According to a statement signed by FIRS’ new Head, Communication and Servicom Department, Mr. Wahab Gbadadmosi, each of the 13 State Coordinators will supervise operations in their areas of jurisdictions.

    “Two directors were moved to the headquarters in Abuja. Three will coordinate affairs in the states.”

    “Experienced deputy directors were transferred to FIRS’ Training School and centres across the country as part of the efforts of the Service to strengthen its knowledge transfer programme and expeditious development of its workforce capacity in the interim,” it said.

    According to the statement, the Director of FCT and North Central Region, Olufemi Faniyi, was posted to the Compliance Support Group, while Innocent Ohagwa, Director, South-South and South-East Directorate Department is now the Acting State Coordinator, Akwa Ibom, Bayelsa and Cross River States.

    “Gbolaga Oshiga, Director, Lagos Mainland (East and West Directorate) Department is now Acting State Coordinator, Ogun, Oyo and Osun States.

    “ Mohammed Magam, Director, North-West and North-East Regions Directorate Department becomes the Acting State Coordinator, Kebbi, Sokoto and Zamfara States, while Olufunlola Adediran, Director, Oil and Gas Department, Lagos, was transferred to the Office of the Coordinating Director, Domestic Tax Group in Abuja,” the statement added.

     

     

  • Buhari wants Senate’s nod for FIRS, AMCON, NCC Chiefs

    Buhari wants Senate’s nod for FIRS, AMCON, NCC Chiefs

    The Senate on Tuesday received communications from President Muhammadu Buhari requesting confirmation of the appointments of Mr. Babatunde Fowler as Executive Chairman of the Federal Inland Revenue Service (FIRS).

    Also received was a request for approval of Alhaji Umaru Danbata as the Executive Vice Chairman of the Nigerian Communication Commission (NCC).

    Similarly, the name of Alhaji Ahmed Kuru was also forwarded to the upper legislative body for confirmation as the Managing Director of Assets Management Corporation of Nigeria (AMCON).

    The names of Kola Ayeye, Eberechukwu Uneze and Aminu Ismail were also forwarded for approval as Executive Directors of AMCON.

  • Fed Govt bars consultants from tax collection

    Fed Govt bars consultants from tax collection

    Tax consultants have been barred from assessing and collecting tax revenue on behalf of the Federal Government.

    This clarification was given yesterday by the new Acting Chairman of the Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler in Abuja when he met with members of the Joint Tax Board (JTB).

    Fowler admitted that consultants will be engaged by the FIRS to gather data only. He said the FIRS has under 1,000 staff in audit function. “So, you can imagine 1,000 staff trying to review or audit the books of 450,000 companies, it just won’t work, to improve the levels of transparency and accountability these consultants will only gather data, the law does not allow them to do assessment or collect revenue on behalf of government they’re just to assist our staff to collect data,’’ he said.

    The FIRS he said will do the assessment with the States Board of Internal Revenues (SBIRs) and issue the demand notices for the tax due.

    Some state members of the JTB had complained that many consultants come to make huge claims so that they can get huge commissions, but they don’t have the capacity to actually collect the huge revenue they claim to have collected in some states.”

    On recent calls for an upward review of the Value Added Tax (VAT) collected by the federal government, Fowler noted that “it is the responsibility of the federal government and the federal ministry of finance to decide wether that (VAT) will change.

    Fowler agreed that five per cent VAT charge was low when other countries that charge VAT both in West Africa and in Europe but those other countries have reached  the maximum level when it comes to paying taxes or public tax. “Those countries have 99 per cent tax compliance so I think we should first of all get there before we consider increasing VAT, when everyone is paying their taxes then we can look else where,” he said.

    In order to build on the achievements of his predecessors, Fowler said he would reach out to SBIRs for collaboration stressing that “there are many stones left unturned as far as our current tax administration processes are concerned. For example, it is common knowledge that administration of VAT is greatly hindered by many factors, ranging from inadequate coverage of vatable persons to non-remittances of VAT deductions, tax revenue loss in this aspect can only be imagined.”

    Speaking to reporters on how the FIRS will operate under his watch, Fowler said his strategy is going to change a bit.

    He said: “Our objective is to have 99.9 per cent level of compliance meaning that everyone and corporate entities that are taxable are captured in the tax net and pay the appropriate tax.

    “ FIRS will exchange information with states boards of internal revenue so that we have all the information on their own data base, we’ve given them ours already meaning that if there is any company that they don’t have in their data base they can capture such company so immediately we will have a growth in the number of tax payers at both the federal and state levels within one week.”

    The FIRS Chairman said the agency has identified and located taxpayers through sharing and exchange of information as much as possible, addng that it will conduct joint audit exercises by FIRS and SBIRs; carry out joint tax enlightenment and enforcement exercises.